SK’s Hyundai Motor to invest $267.5 mln into R&D projects in Russia

12/26/2018 9:00:00 PM (GMT)

South Korea (SK)-based automotive to technology company Hyundai Motor Group announced plans to make investments on research and development (R&D) projects in Russia.

Hyundai Motor intends to pump in 300 billion won (approximately $267.5 million) in R&D over 10 years.

With the investments, Hyundai Motor plans to construct a R&D facility and work on new cars in Saint Petersburg which will focus on engines and transmission manufacturing.

In 2015, Hyundai Motor booked $217.28 billion in revenue.

Hyundai Motor Group

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