Hyundai Motor and Kia Motors will increase their investment this year up to 5 trillion won, about 1 trillion won more than scheduled early this year, to take the leadership in hydrogen fuel cell and other leading-edge technology areas. In addition, the car makers will add the number of research staff by 30 percent in three years from the current 10,000.
The areas that Hyundai and Kia focus on investing are environmentally friendly car and self-driving car. In addition, they will try to perfect the miniaturization technology for their hydrogen fuel cell car.
A high-ranking Hyundai Motor official said, “In ten years from now, electric cars and hydrogen-fueled cars will replace cars with the internal combustion engine. Without securing fundamental technologies in these areas, we can’t assure our survival by then.”