Hyundai Motor (KS:005380) is planning a multibillion-dollar investment in robotics, a data centre and hydrogen infrastructure in South Korea’s Saemangeum west coast zone, Reuters reported Wednesday, citing people familiar with the matter.
The conglomerate and the government could sign a preliminary agreement on the project as early as this week, according to the report.
Hyundai Motor shares jumped more than 10% in Seoul trading after the news.
The planned outlay is seen as reinforcing Hyundai Motor Group’s push into artificial intelligence-driven autonomous driving, robotics, and future energy.
