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Hyundai Motor Group Chairman Euisun Chung / Yonhap
Hyundai Motor Group Chairman Euisun Chung / Yonhap

Korea's Hyundai Motor Group said Tuesday it will invest 63 trillion won ($49.8 billion) in its domestic businesses by 2025 in the latest move to become a future mobility systems and solutions provider.

Hyundai Motor, Kia and Hyundai Mobis will make the investments in their domestic production facilities, electrification, autonomous driving and other next-generation technologies to serve as the "hub of the group's future businesses," the group said in a statement.

The three companies are major affiliates of the world's fifth-biggest automotive group by sales.

The latest move came just days after Hyundai Motor Group Chairman Euisun Chung announced investments of a total of $10.54 billion to build a dedicated electric vehicle plant in the U.S. state of Georgia and to develop robotics and autonomous driving technologies in the United States.

Hyundai Motor, Kia and Hyundai Mobis will spend a combined 16.2 trillion won out of 63 trillion won to gain a competitive edge over rivals in all-electric and environment-friendly vehicles, the statement said.

Samsung to invest 450 tril. won in chip, bio industries for next 5 years

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