Hyundai plans to spend $ 10 billion on EV, cars and robotics in the US by 2025 – TechCrunch
Hyundai has said it plans to invest more than $ 10 billion in accelerating electrification and autonomous vehicle technology in the U.S. by 2025.
Part of this bank includes $ 5.5 billion earmarked for a a new plant for the production of electric electric drives and a plant for the production of batteries in Georgia, which Hyundai announced on Friday. Non-affiliated suppliers contributing another $ 1 billion in this project pushing a total cost of up to $ 6.5 billion.
The remaining $ 4.5 billion of Hyundai’s total U.S. investment will go to what the automaker has identified as a “key business of the future”. According to Hyundai, the key future businesses are robotics, artificial intelligence technologies, improved air mobility and the possibility of autonomous control. In particular, Hyundai said it would invest its funds through joint ventures and subsidiaries.
The investment will also help Hyundai upgrade the research and development of its Kia and Genesis brands, – stated in the company.
Electricians and batteries
According to officials, the new EV plant is the largest economic development deal attracted by Georgia. It is planned that the plot of 2923 hectares will be opened early next year and will begin commercial production in the first half of 2025 with an annual capacity of 300,000 units.
The operations will help Hyundai achieve its goal of becoming the top three electricity suppliers in the United States by 2026. Mainly based on renewable energy, the plant will use a highly connected, automated and flexible production system where robots will help people, Hyundai said.
Hyundai has said the plant will produce some of the 23 EVs it plans to release by 2025. Its battery production capacity will help Hyundai set up a stable supply chain.
In 2020, Hyundai acquired an 80% stake in SoftBank Boston Dynamics, in a deal that valued the mobile robotics company at $ 1.1 billion. Part of the $ 10 billion investment announced on Sunday will go to building a value chain in robotics, from component manufacturing to logistics.
Boston Dynamics launched the first two commercial robots, Spot and Stretch, to work in a variety of industries. Spot is used in the energy, construction, manufacturing, oil and gas and mining industries. Stretch, which is the arm of a robot that moves boxes, is sold for use in warehouses and distribution centers.
The money will also support a subsidiary of Hyundai New Horizons Studio, which works on Ultimate Mobility Vehicles, such as Tiger, an autonomous freight carrier equivalent in the size of hand luggage.
In 2019, Hyundai founded Fr. $ 4 billion joint venture with Aptiva global supplier that develops AV technology. MotorThe resulting AV technology company is currently piloting autonomous driving technology in the Lyft and Via programs to share trips to Las Vegas.
Hyundai has said it will “actively support Motional,” meaning the company intends to invest more money in the company as it progresses into commercial operations.
Motional to supply Hyundai-based robots Ioniq 5 EV brand, at the Lyft network in Las Vegas next year, said chief technology officer Laura Major at a TechCrunch Mobility conference on Wednesday. The cars will be delivered with human security operators, but they must be able to autonomously control the landing and pickup maneuvers at the hotel.
Looking at the Sky Hyundai released last year Supernal of Washington, DC figure out how to integrate air mobility into existing networks for intermodal travel.
The company is developing an app for customers to plan their trip using a mix of cars, trains, advanced air mobility, eVTOL and electronic scooters. It aims to start commercial service in 2028.