Hyundai will invest $5 billion toward US manufacturing and innovation

An additional $5 billion will be allocated to investments in the US. The funds will be used to support the company's work in artificial intelligence, self-driving cars, and electric vehicles. The news of a $5.54 billion electric vehicle plant in Georgia was recently announced. The automaker plans to invest $10 billion in the US by the year 2025.

Boston Dynamics, which was acquired byHyundai in 2021, will be supported by some of the money. The firm is committed to growing by expanding its manufacturing capabilities and product lineup. The company will support Motional, its Boston-based self-driving unit, by working to make its technology safer and more accessible to customers in the US and other parts of the world.

The move supports carbon neutrality goals with new technologies and contributes to manufacturing in the US, according to a statement. The Georgia plant will be able to produce 300,000 EVs per year once production starts in the first half of the 20th century. The facility will be built in the early part of the 20th century.