Hyundai Motor says to lift auto operating margin to 7 per cent by 2022
27 Feb 2019 7:35 AM GMT
Automaker plans to invest 45.3 trillion won (USD 40.48 billion) over the next five years in research and development.
The cooperation is part of Hyundai Motor's wider strategy to establish an industry-leading connected car platform through collaboration with leading technology partners
Seoul: Hyundai Motor Co said on Wednesday it plans to boost the core automotive businesses’ operating profit margin to 7 per cent by 2022, compared with 2.1 per cent in 2018, as part of its mid- to long-term plan.
The automaker said it also plans to invest 45.3 trillion won (USD 40.48 billion) over the next five years in research and development, capital expenditure and future growth areas such as autonomous driving technologies, vehicle electrification and mobility services.
( Source : reuters )
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