SEOUL — Hyundai Motor Group plans to take a position a complete of 21 trillion gained ($16.54 billion) by way of 2030 for the growth of its electrical car enterprise in South Korea.

The South Korean auto group, which is father or mother to Hyundai and Kia, plans to yearly construct 1.44 million items of EVs in South Korea by 2030.

The 1.44 million items of EV manufacturing quantity in South Korea would account for about 45 % of a mixed international EV manufacturing capability of three.23 million EV items in 2030, the auto group mentioned.

Reuters reported final week that Hyundai plans to construct a brand new EV manufacturing plant within the U.S. state of Georgia.

The Atlanta Journal-Structure reported the South Korean firm would make investments $7.5 billion in Georgia and rent 8,500 folks as a part of its plans to construct a brand new manufacturing facility.

Final 12 months, Hyundai Motor Group mentioned it plans to take a position $7.4 billion within the U.S. by 2025 to provide EVs, improve manufacturing services and additional its funding in good mobility options – expertise to enhance totally different modes of transportation in cities.