Hyundai to spend USD 5.9 Billion reservation money on domestic electric vehicle plants
Shortpedia
Content Team
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Hyundai Motor Group said on Monday it will utilise 7.8 trillion won ($5.9 billion) worth of reservation money held by its overseas operations to push forward the group's planned investments in domestic EV plants. Hyundai Motor, its smaller affiliate Kia and auto parts maker Hyundai Mobis will receive $2.1 billion, $3.3 billion and $200 million, respectively, from their operations in the US and Europe in the form of dividends, the group said in a statement.
