Hyundai Motor Group, the owner of both the Hyundai and Kia brands and the fifth largest automaker in the world, announced that it will invest US$12.2 billion this year in research and development (R&D) as well as on improving its facilities.
The South Korean group announced last October that their target for 2012 was 7 million units, up from 6.5 million in 2011. Despite the economic crisis, both brands have performed excellently. They also estimate that their growth could have been even larger had it not been limited by their plants’ output, many of which are operating at or near their maximum capacity.
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