Good green news – green cars on the way
The Hyundai-Kia Automotive Group on Wednesday announced plans to invest W9.3 trillion ($ 7.45 Billion U.S.) this year, some W4.1 trillion ( $3.3 billion U.S.) of which will go to green growth projects. Another W500 billion ( $ 400 million U.S.)will be used to reduce carbon emissions from its own factories. The group expects these efforts will create 1,600 jobs in 2010 and 12,000 in 2012. The carmaker said it will expand investment into R&D and facilities to establish a mass production system for green cars in 2012, with an aim to become one of the top-four green car companies in the world.
It will spend W2.2 trillion ( $ 1.76 billion U.S.) to develop eco-friendly cars including hybrid and hydrogen fuel-cell vehicles and W1.4 trillion to develop fuel-efficient engines, transmissions, and light materials.
