Hyundai Motor Co. will invest 10.5 trillion won ($8.5 billion) over the course of 2023, according to an exchange filing Thursday, as it moves to electrify more of its fleet to sate rising consumer demand for cleaner cars.
The South Korean automaker is also targeting revenue growth of as much as 11.5% this year after posting fourth-quarter earnings that beat analyst estimates. Hyundai also increased dividends in an unusual move for the carmaker.
