Chairman Euisun Chung of Hyundai Motor Group in Korea said that his company will invest US$5 billion in the United States for robotics and autonomous-driving software development.
Chung made the announcement at his meeting with President Job Biden of the United States in Seoul.
The announcement came in the wake of his announcement a day earlier that his company will invest US$5.54 billion to build a dedicated electric vehicle and car battery manufacturing plant in the State of Georgia in the U.S. to further solidify Hyundai’s electrification push in the world's most important automobile market.
At 11 a.m. Sunday (the last day of President Biden’s visit to Korea), according to Korean-language news media reports, President Biden met with Chairman Chung alone at the Grand Hyatt Seoul in Yongsan Ward in Seoul. They had a 20-minute, one-to-one meeting, and made the announcement in front of a cascade at the swimming pool of the hotel.
Chairman Chung disclosed that in addition to the US$5.5 billion investments in electric vehicles in the U.S. promised in the preceding day, his company will additionally invest US$5 billion in robotics, UAM self-driven vehicle AI.