Hyundai, Affiliates Plan To Set Up New Company In US: Reuters

by Shivani Kumaresan, Benzinga Staff Writer

June 30, 2022 7:44 AM | 1 min read

Hyundai Motor Co HYMTF is planning to launch a company along with its two affiliates in the U.S., Reuters reported.
Through the move, the company plans to strengthen its presence in the U.S. by exploring business opportunities.
In May, Hyundai said it would invest more than $10 billion in the U.S. by 2025, to strengthen partnerships with firms in the U.S.
Related: Hyundai Motor To Invest $10B In US By 2025
The company is already planning to build an Electric Vehicle manufacturing facility in Georgia.
Price Action: HYMTF shares closed lower by 6.53% at $33.50 on Wednesday.
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