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Benzinga

Business

Shivani Kumaresan

Hyundai, Affiliates Plan To Set Up New Company In US: Reuters

Hyundai United States HYMTF Hyundai Motor Hyundai Motor Co Wikimedia Commons electric vehicle Georgia

Hyundai Motor Co (OTC:HYMTF) is planning to launch a company along with its two affiliates in the U.S., Reuters reported.
Through the move, the company plans to strengthen its presence in the U.S. by exploring business opportunities.
In May, Hyundai said it would invest more than $10 billion in the U.S. by 2025, to strengthen partnerships with firms in the U.S.
Related: Hyundai Motor To Invest $10B In US By 2025
The company is already planning to build an Electric Vehicle manufacturing facility in Georgia.
Price Action: HYMTF shares closed lower by 6.53% at $33.50 on Wednesday.
Photo Via Wikimedia Commons

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