Hyundai Motor Group plans record high investmen

According to Khabarkhodro, Hyundai Motor Group of South Korea plans to make a record high investment in 2012, focusing on development of next-generation vehicles.

 The group announced on Thursday that its total investment next year will be 14.1 trillion won or about 12.2 billion dollars. This would be 16 percent more than this year.

 7.8 billion dollars will be used for creating new facilities, up 18 percent from this year. New plants will be built in South Korea and Brazil.

 4.4 billion dollars will be allocated for research and development, up 11 percent. The money will be spent on developing next-generation vehicles such as hybrid cars and electric vehicles.

 Sales of Hyundai cars have been growing sharply in the United States and emerging economies with the help of a weaker won.

 The group aims to increase its market share by aggressively investing in areas where growth is expected.