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HYUNDAI KIA AUTOMOTIVE GROUP TO INVEST US$5.9 BLN THIS YEAR.
SEOUL, March 2 Asia Pulse - Hyundai Kia Automotive Group, South Korea's top automaking conglomerate, said Sunday it will invest a total of 9 trillion won (US$5.9 billion) in facility expansion and research and development this year.
This year's investment is similar to that of last year and reflects its commitment to helping overcome the current economic crisis, said the group which owns the nation's top two automakers, Hyundai Motor Co. (KSE:005380) and Kia Motors Corp (KSE:000270).
Of the total, 3 trillion won will be earmarked for the development of fuel-efficient and environmentally-friendly vehicles, and other research activity, the group said.
Through the investment, the group aims to put hybrid cars on the domestic market and increase hybrid car output to 30,000 units next year.
The remaining 6 trillion won will be invested in new plants and ...
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