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Hyundai Motor Group to invest $87B over next 5 years; 44 electrified vehicles; new EV development system; hydrogen plans

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Hyundai Motor Group (HMG) will invest more than KRW100 trillion (US$87 billion) over next 5 years—KRW20 trillion (~US$17.4 Through the new EV architecture development system, Hyundai Motor Group will innovate its cost structure for electric vehicles by sharing components in their application to various models.

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Kia Motors to accelerate diversification of global mobility services

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Kia will also launch a dealer mobility service in Italy and Russia later this year. The company provided 200 Niro EVs to the car-hailing firm Lyft last year, and this year provided 44 Niro HEVs to MoceanLab, Hyundai Motor Group’s mobility service company. Kia will expand the service gradually across the globe in future.

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