Hyundai is investing in the development

Car News, Hyundai. The South Korean automaker is planning to invest 12 billion of dollars in the development this year. The production expanding and new developments are in priority. This is the largest investment in the company's history. The purpose of this funding is to increase competitiveness in the scientific research. The company is intending to spend more than 5 trillion of KRW on new developments and about 9 trillion of KRW will enhance the capacity of the enterprise.

The Hyundai is planning to increase the funding by more than 15% in 2012.

Accelerating development works are underway in order to modernize vehicles and meet the environmental requirements and vehicles cost. About 90% of the fund means allocated for research activities will be spent to perform this task. About 3 trillion of KRW is planning to be invested in building of factories of Hyundai at home and abroad, as well as the development of retail chains and service centers.

It is worth noting that the Hyundai car is the top selling in Russia according to the recent statistic. The new model of KIA Rio has set record sales in its first month. Investing in a newly opened plant in the country make about half a billion of euros.