The world’s third largest automaker by volume, Hyundai Motor Group is investing in areas including hydrogen and electric vehicles.

Auto giant allocates almost half of investment to R&D Hyundai Motor Group on Thursday announced its largest-ever annual investment of 24.3 trillion won ($16.65 billion) in Korea to secure and advance key technologies while increasing its production capacity for electric vehicles.

South Korea's Hyundai Motor Group said on Thursday it planned to boost domestic investment by 19% to a record high of 24.3 trillion won ($16.65 billion) this year to secure future growth even as it grapples with economic and political uncertainties.

The world’s third-largest auto group is going all-in to lead the shift to electrification. With plans to pour a

Hyundai Motor Group announced a plan, Thursday, to invest 24.3 trillion won ($16.67 billion) in Korea this year, in a preemptive move to develop cutting-edge mobility solutions, focusing on electrification,