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

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

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 logo of Hyundai Motor is seen during the 2017 Seoul Motor Show in Goyang
The logo of Hyundai Motor is seen during the 2017 Seoul Motor Show in Goyang, South Korea, March 31, 2017. REUTERS/Kim Hong-Ji

SEOUL: 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 (US$40.48 billion) 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.

(Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)

Source: Reuters

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