Guests take pictures in entrance of the emblem of Hyundai Motor through the 2019 Seoul Motor Present in Goyang, South Korea, March 28, 2019. REUTERS/Kim Hong-Ji

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SEOUL, March 2 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) plans to take a position about 95.5 trillion received ($79.21 billion) by means of 2030, the corporate stated on Wednesday, together with about 19.4 trillion received in direction of electrical autos (EV).

In late 2020, Hyundai Motor, which along with affiliate Kia Corp (000270.KS) is among the many world’s high 10 greatest automakers by gross sales, stated it could goal a share of 8% to 10% of the worldwide EV market by 2040.

In January, Hyundai and Kia forecast a 12.1% bounce of their mixed international gross sales for 2022, after their gross sales fell nearly 4% wanting a goal of 6.92 million autos final 12 months because of the chip shortages. learn extra

Shares in Hyundai Motor was buying and selling down 1.7% as of 0559 GMT, versus the benchmark KOSPI’s (.KS11) 0.5% rise.

($1=1,205.6800 received)

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Reporting by Heekyong Yang and Joyce Lee; Enhancing by Clarence Fernandez and Rashmi Aich

Our Requirements: The Thomson Reuters Trust Principles.