South Korea’s Hyundai Motor Group announced today that it plans to invest 68 trillion won in South Korea by 2026 (Note: currently about 366.52 billion RMB) and recruit 80,000 people to seek opportunities in the industry. Gain a competitive advantage in the electric vehicle sector.
Hyundai Motor said that including job induction effects, more than 198,000 jobs will be created. The group aims to expand its annual electric vehicle production in South Korea to 1.51 million units by 2030, including subsidiary Kia Motors.
▲ Hyundai Ioniq 5
Specifically, Hyundai Motor Group plans to hire 44,000 people for future new businesses such as electric vehicles and the software-centered smart car field, 23,000 people for new car development and global operations in existing businesses, and 23,000 employees, including retirees. There are 13,000 elderly employees in the company.
According to reports, Hyundai Motor Group will invest 31.1 trillion won (currently approximately 167.629 billion RMB) in research and development, most of which is related to future automotive business, such as electric vehicle transformation, software-defined vehicles (SDV) and the internalization of battery technology .
The core of Hyundai Motor Group’s current investment is the Global Business Center (GBC) and future electric vehicle factory in Gangnam, Seoul. The Kia Guangming electric vehicle factory will be put into production in the second quarter of this year, and the Kia Hwaseong electric vehicle factory will also be put into operation in 2025. It will be put into production in the second half of the year.
Hyundai Motor’s Ulsan EV plant plans to mass-produce various models in the first quarter of 2026, including the pure electric super large SUV model “Genesis”. It is said to be the production version of the “Neoroon” recently released in New York; there are also future plans for the “electric car GV90”.
