The automaker promised the Korean government to invest 24.3 trillion Korean won ($16.7 billion), the largest investment in history, the Financial Times clarifies. Hyundai said that without ongoing, sustainable investment, it is “impossible to overcome the crisis and form the basis for future growth in an uncertain environment.”
In addition to Hyundai, the Hyundai Motor Group holding company includes Kia. At the end of 2024, the company’s global sales amounted to 4.14 million vehicles, which is 1.8 percent less than the result of 2023. 3,436,781 cars were sold in export markets, and another 705,010 units were sold in South Korea. In 2025, Hyundai Motor aims to sell 4.17 million vehicles worldwide. The focus will be on increasing sales of electrified vehicles (EVs and hybrids), increasing production volumes at local and overseas plants, and introducing “flexible and profitable manufacturing operations.”
Lamborghini engineers began testing the Hyundai Ioniq hot hatch The new Hyundai Palisade collected 33 thousand pre-orders in a day Hyundai Creta has become an electric car
Hyundai recognizes the growing uncertainty in the market, including the slowing growth in demand for “green” cars. To overcome the global crisis and reduce its negative impact on the South Korean economy, the automaker promised to allocate a record 24.3 trillion Korean won to the country’s government.
In Russia, Hyundai Motor suspended operations in the spring of 2022 after the start of the SVO. Later, the holding got rid of Russian assets, including the Hyundai Motor Manufacturing Rus plant in St. Petersburg, an engine plant there and a production site purchased at one time from General Motors. Currently, at the facilities of the former Hyundai Motor Manufacturing Rus, which passed to the new owner, the AGR Group, cars are produced under the Solaris brand. These are the renamed Hyundai Solaris and Kia Rio sedans, the Rio X crossover hatchback and the Hyundai Creta crossover.
I’ll never see you: new cars are not for Russia
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