Hyundai Motor says to lift auto operating margin to 7 percent by 2022

FILE PHOTO: A security guard is seen at the main entrance of a plant of Hyundai Motor Co on the outskirts of Beijing, China January 25, 2019. REUTERS/Jason Lee/File Photo - Copyright JASON LEE(Reuters)

By Reuters

Published on 27/02/2019 - 10:35•Updated 26/04/2024 - 07:49

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SEOUL (Reuters) - Hyundai Motor Co said on Wednesday it plans to boost the core automotive businesses’ operating profit margin to 7 percent by 2022, compared with 2.1 percent in 2018, as part of its mid- to long-term plan.

The automaker said it also plans to invest 45.3 trillion won (30.55 billion pounds) over the next five years in research and development, capital expenditure and future growth areas such as autonomous driving technologies, vehicle electrification and mobility services.