Hyundai to invest 10.7 billion US dollars this year to continue global expansion

Geely Automobile News According to a Reuters report, a spokesman for the Hyundai Kia Group, a Korean car company, revealed that the company plans to invest 10.7 billion U.S. dollars in 2011 to continue its global expansion.

It is understood that Hyundai-Kia Motors has achieved a good sales performance in the world in 2010. In 2010, the company sold a total of 5.74 million vehicles worldwide, an increase of 24% year-on-year.

Hyundai and Kia Motors also said that the company will increase its global vehicle sales target for 2011 to 6.33 million vehicles, which is expected to increase by 10% year-on-year. The company plans to launch a total of 12 new or modified models in 2011 to promote the continued increase in car sales.

In addition, Hyundai-Kia Motors, the Korean automaker, believes automakers will rely more on high-margin emerging markets in 2011, such as the BRIC China, Brazil, Europe, Russia and India. In addition, the U.S. market is gradually recovering.