[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Motor Group, whose management performance has recently improved mainly in North America, Europe and Asia, will utilize nearly 8 trillion won in funds secured through capital reshoring (importing income earned by Re-shoring· overseas subsidiaries to their home countries) as domestic investment funds.

Hyundai Motor Group announced on the 12th that it will increase the dividend of the headquarters of its overseas subsidiaries 4.6 times this year compared to the previous year and invest $5.9 billion (about 7.8 trillion won, the average exchange rate for the last two months) that will be brought into the country to build a new electric vehicle plant and develop a platform. By affiliate, ▶Hyundai Motors 2.1 billion dollars (about 2.81 trillion won) ▶Kia 3.3 billion dollars (about 4.43 trillion won) ▶Hyundai Mobis 200 million dollars (about 260 billion won).

"79% of the total dividends will be sent to the headquarters within the first half of the year for investment in the domestic electric vehicle sector in earnest," Hyundai Motor Group said. "The remaining 21% will also flow into the country within this year."

In April, Hyundai Motor Group held a groundbreaking ceremony for a plant dedicated to customized electric vehicles at Kia Autoland Hwaseong in Hwaseong-si, Gyeonggi-do, and announced its plan to invest 24 trillion won in the domestic electric vehicle sector by 2030 to upgrade related technologies and facilities. It is to achieve the vision of producing 3.64 million electric vehicles per year by 2030 and becoming the 'Global Top 3'.

 

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