50%

HYUNDAI BETS ON TRUMP

Finweek English Edition - - THE WEEK -

Hyundai Mo­tor Com­pany, South Korea’s largest au­tomaker, said it will in­crease its in­vest­ment in the US by 50% over the next five years to $3.1bn, hop­ing to cash in on Don­ald Trump’s prom­ise to cre­ate 1m jobs in five years, ft.com re­ported. The car­maker de­nied that the in­vest­ment was a re­sponse to Trump’s in­ten­si­fy­ing Twit­ter as­sault on global au­tomak­ers for pro­duc­ing cars and in­vest­ing in Mex­ico rather than in the US, ft.com said. Ear­lier in Jan­uary, Ja­panese car­maker Toy­ota said it would in­vest $10bn into the US, and Ford said it would can­cel a $1.6bn plant in Mex­ico and build the fa­cil­ity in Michi­gan in­stead, ft.com said.

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