has committed to a spend of around ₩24-trillion by 2030 as it seeks to increase production of electric vehicles.
Hyundai Motor Group includes Hyundai, Kia, the luxury Genesis brand and parts and service arm Hyundai Mobis.Hyundai said that by 2030, it expects to have 31 EV models across its suite of brands. It added that Kia will build a new plant to manufacture electric purpose-built vehicles in Hwaseong city south of Seoul. Kia is preparing to release a three-row seat electric SUV, the EV9, in Korea later this year while Hyundai plans to introduce the Ioniq 7 in 2024.
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