S.Korea’s Hyundai Motor and its affiliates to jointly set up company in U.S. to explore businesses

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2022 World Car Awards at the New York International Auto Show, in New York City

SEOUL (Reuters) – South Korea’s Hyundai Motor Co and its two affiliates plan to jointly set up a company in the United States to explore businesses, Hyundai Motor said on Thursday.

In May, Hyundai Motor Group said it plans to invest more than $10 billion in the United States by 2025 to strengthen collaboration with U.S. firms in advanced technology.

(Reporting by Heekyong Yang; Editing by Raissa Kasolowsky)

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