Hyundai Motor says to lift auto operating margin to 7 percent by 2022

February 27, 2019

SEOUL (Reuters) – Hyundai Motor Co said on Wednesday it plans to boost the core automotive businesses’ operating profit margin to 7 percent by 2022, compared with 2.1 percent in 2018, as part of its mid- to long-term plan.

The automaker said it also plans to invest 45.3 trillion won ($40.48 billion) over the next five years in research and development, capital expenditure and future growth areas such as autonomous driving technologies, vehicle electrification and mobility services.

(Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)

Comments (No)

Leave a Reply