Hyundai Motor sets record budget of 14.1 trillion won

Hyundai Motor Group said it will focus on the development of eco-friendly cars and that more hybrid models will be launched in 2012. The company also set a record budget of 14.1 trillion won (US$12.5 billion), of which 9 trillion won (US$8 billion) will go towards the development of facilities and 5.1 trillion won (US$4.5 billion) will spent for research and development. R&D focus will be on the development of futuristic cars, including hybrids and electric vehicles. (December 30, 2011)