Hyundai Motor Group plans to announce a multi-billion investment on the west coast of South Korea, according to a source with direct knowledge of the matter. The intention of the Korean group, Reuters reports, is to strengthen its presence in high-tech sectors such as artificial intelligence for autonomous driving and robotics. And it wants to do so by focusing on a coastal area rich in potential for renewable energy.
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Hyundai invests in artificial intelligence
The news has already had repercussions on the markets. On Wednesday, Hyundai shares rose by 10,5%, while those of its affiliate KIA rose by 15%. Decisive in this sense is the report indicating a series of possible total investments for approximately 10 trillion won, equal to 7 billion dollars, in the Saemangeum area over the next five years. According to a second source, the investment would include a set of projects in the field of robotics, the construction of a data center dedicated to artificial intelligence and hydrogen infrastructure. An operation that could therefore serve as an operational center to integrate electric and hydrogen vehicles with AI and robotic solutions.
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Between robotics and autonomous driving
Hyundai preferred not to issue official comments on the rumor, while the announcement is part of a broader framework of industrial commitments. In November, the group had in fact declared that it will invest 125,2 trillion won in South Korea by the end of the decade, as part of a plan that was partly facilitated by the trade agreement between Seoul and Washington which reduced tariffs on some South Korean cars. In October, however, the same company signed an agreement to purchase up to 50.000 artificial intelligence chips from Nvidia and build an “artificial intelligence factory” to accelerate on-board vehicle applications, autonomous driving, smart factories, and robotics. The group, owner of Boston Dynamics, also announced in January the goal of reaching a production capacity of 30.000 robotic units per year by 2028.
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