Hyundai to invest over $6B in AI, robotics, renewable energy
What's the story
Hyundai Motor Group has signed a deal with the South Korean government to invest around 9 trillion won ($6.26 billion) in an artificial intelligence (AI) data center, a robot manufacturing facility, and other developments in the country's western coastal region. The bulk of the investment, about 5.8 trillion won, will go into building an AI data center with a whopping 50,000 GPUs. This massive tech infrastructure is expected to bolster Hyundai's capabilities in the field of artificial intelligence.
Diverse investments
Investment in hydrogen production and solar generation
Hyundai will also invest 400 billion won in a factory to manufacture robots, including wearable ones. The company has also earmarked 1 trillion won for hydrogen production facilities and another 1.3 trillion won for solar generation. These investments highlight Hyundai's commitment to diversifying its operations beyond traditional automotive manufacturing into cutting-edge technologies like robotics and renewable energy.
Project background
Location of the investment project
The investment projects will be located in Saemangeum, a large-scale national land reclamation project that started more than two decades ago. The initiative was launched to secure farmland and later develop industrial clusters in an area long considered disadvantaged.