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Hyundai to Invest Record $16.7 Billion in South Korea in 2025, Boosting EV Production by 19%

Jan 9, 2025, 01:25 AM

Hyundai Motor Group has announced plans to invest a record 24.3 trillion won ($16.7 billion) in South Korea in 2025, marking a 19% increase from last year’s domestic investment. The investment aims to bolster the company’s future competitiveness amid global economic and political uncertainties. Of the total, 11.5 trillion won will be allocated to research and development for next-generation vehicles, electrification, software-defined vehicles, and hydrogen-powered products. Another 12 trillion won will go toward production upgrades, including electric vehicle (EV) production facilities, while 800 billion won is earmarked for strategic investments in areas such as artificial intelligence and autonomous driving. Hyundai plans to expand its EV lineup to 21 models by 2030, and Kia, its affiliate, aims to launch 15 EV models by 2027. Kia’s Hwaseong EVO Plant is set to begin production of electrified purpose-built vehicles (PBVs) in late 2025, while Hyundai’s Ulsan EV-only plant will start producing various EV models, including a large SUV, in early 2026. The investment reflects Hyundai's commitment to overcoming uncertainties and securing growth engines for the future.