Hyundai joins autonomous vehicle race
Hyundai has made a massive commitment to building mass-market electric and self-driving cars over the next six years.
South Korea's largest car company plans to invest 41 trillion won (NZ$55 billion) into "future mobility technology" by 2025, putting it firmly in the global race to get fully autonomous vehicles on the roads.
Hyundai’s plans will cover autonomous, connected and electric vehicles that will be available in ride-sharing networks.
Its financial commitment to these developments puts it on par with some of the industry's top players. Volkswagen has already said it will spend 30 billion euros ($52.5 billion) over the next five years to make an electric or hybrid version of every vehicle in its line-up.
Hyundai aims to release 23 kinds of electric vehicles by 2025, which would make up about half of its new line-up.
The company is being partnered in its push by a pledge from South Korea's government to spend 2.2 trillion won on auto technology and to commercialise autonomous transport fleets before any other country.
South Korean President Moon Jae-in says he expects self-driving cars to account for half of new cars on the country's roads by 2030.
"Our goal is to become the No.1 country for future car competitiveness," he says. "The self-driving market is a golden market to revitalise the economy and create new jobs."
