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Hyundai Motor Group to invest US$12.2 Billion in 2012

By SYF77 on 06 Jan 2012

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Recently, I blogged about Audi’s plan to invest a massive € 13 billion (US 16.8 billion) in new products and technologies, and in expanding its sites from 2012 through 2016. Hyundai Motor Group, the fifth largest automaker in the world, is even more aggressive as they announced an investment of US12.2 billion in 2012 alone into R&D and facilities improvement.

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The company stated that almost US$4.4 billion are earmarked for its R&D department in order to accelerate the development of eco-friendly and fuel-efficient vehicles. Another US$2.6 billion will be invested in upgrading existing plants and constructing new factories in South Korea and overseas. The remaining funds will be invested in the rest of its global facilities and its local steel production operation. Both Hyundai and Kia are increasing their investment in 2012 by 15.6 percent as compared to the preceding year to meet the increased demand.

The owner of Hyundai and Kia brands announced in October 2011 that their sales target for 2012 was 7 million units, up from 6.5 million in 2011. They estimated that their growth in 2011 could have been even larger if it not been limited by their plants’ output, many of which are operating at or near their maximum capacity. Both Hyundai and Kia have achieved record sales in the North America market in the year that has just passed.

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SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
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