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Korea: Hyundai, Kia To Expand Hybrids, Electrics With New Investment

If you’re looking to buy a hybrid or electric car in the next few years, you could certainly do worse than to keep your eye on the Korean carmakers.

Hyundai Motor Group, the company in charge of both Hyundai and Kia, has announced heavy investment into hybrid and electric technology this year.

AsiaOne Business has revealed that the group intends to invest $15.5 billion into facilities, and research and development. Two thirds of this will go towards improving facilities, and a significant proportion of the R&D budget will be focused on the development of hybrids and electric cars.

Hyundai Motor will be in charge of future plug-in hybrid and fuel cell development, and Kia will handle “electric drive vehicles”, a term broadly encompassing any drivetrain that uses an electric motor for propulsion.If you’re looking to buy a hybrid or electric car in the next few years, you could certainly do worse than to keep your eye on the Korean carmakers.

Hyundai Motor Group, the company in charge of both Hyundai and Kia, has announced heavy investment into hybrid and electric technology this year.

AsiaOne Business has revealed that the group intends to invest $15.5 billion into facilities, and research and development. Two thirds of this will go towards improving facilities, and a significant proportion of the R&D budget will be focused on the development of hybrids and electric cars.

Hyundai Motor will be in charge of future plug-in hybrid and fuel cell development, and Kia will handle “electric drive vehicles”, a term broadly encompassing any drivetrain that uses an electric motor for propulsion.
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