Hyundai wants to invest $5 billion in mobility technology in the United States, including autonomous driving and robotics

Hyundai Motor announced that it will make an investment of $5 billion in the United States by 2025 to advance mobility technologies like robotics, autonomous driving, and artificial intelligence.

The investment follows the automaker’s announcement of a $5.54 billion plan to create its first dedicated EV (electric vehicle) and battery manufacturing plants in the United States, just outside of Savannah, Georgia. That plant is anticipated to open in the first half of 2025, with a manufacturing capacity of 300,000 vehicles per year. Hyundai will invest $10 billion to further its “aim of providing sustainable and smart mobility solutions,” according to the business.

Hyundai aims to be among the top three electric car providers in the United States by 2026 and is among the several global automakers creating new supply chains and manufacturing facilities in the country to take advantage of the category’s predicted decade-long exponential development. By 2030, the business plans to sell 3.23 million completely electric vehicles worldwide.

It also aligns with the Biden administration’s drive for corporations to establish EV supply chains in the United States rather than abroad. Following the president’s use of the Defense Production Act in the month of April to promote local production of minerals needed to create electric vehicle batteries, the administration launched a $3.1 billion program earlier this month to enhance American battery manufacturing. By 2030, the White House hopes to sell 50 percent of electric vehicles.

Hyundai’s new investment would enable it to strengthen its relationship with “U.S. private and public entities to provide innovative products and mobility options to our valued consumers in the United States while helping global carbon neutrality efforts,” according to Euisun Chung, who works as the executive chairperson of Hyundai Motor. The corporation stated that this will encompass robotics, improved artificial intelligence, air mobility, and autonomous driving.

In December 2020, Hyundai Motor purchased an 80 percent ownership in Boston Dynamics from Softbank. The business, best famous for its 4-legged dog-like robot Spot, was assessed at $1.1 billion. In June 2020, Boston Dynamics, which was formerly backed by Google, began selling its first robot commercially.

The manufacturer is also pursuing autonomous technology through Motional, a joint venture with Aptive, a mobile technology firm based in the United States. Motional is now testing its robotaxi service on public roads in the United States and plans to begin commercial service in 2023, as part of a larger campaign to bring autonomous vehicles to American roadways.

Hyundai formed Supernal in November with the goal of developing a series of electric air cars for the booming advanced air mobility market. The business has stated that its first commercial flight will take place in 2028.

Leave a Reply

Your email address will not be published. Required fields are marked *