"The company will spend 20 trillion won ($17.4 billion) a year"
Hyundai is big, but that is insane amount of money. They're going to have to finance a lot of it since their profit is "only" $5 billion per year.
Good on them for such bold decision.
Hyundai is big, but that is insane amount of money. They're going to have to finance a lot of it since their profit is "only" $5 billion per year.
Good on them for such bold decision.
https://finance.yahoo.com/quote/HYMTF/balance-sheet/
https://www.reuters.com/article/us-kepco-realestate-hyundai-...
Yes, it's bold. But perhaps too much so?
It is quite significant. Ford is the biggest one I can think of with about a $1b each for Argo AI and Rivian. Toyota AI Ventures is only $100m.