Hyundai increases investment in electric vehicles to include parts and semiconductor chips.

Hyundai Mobis, a subsidiary of Hyundai Motor Group and a major auto parts maker in South Korea, recently announced plans to expand its electric vehicle (EV) investments. Mitchell Yun, from Mobis Ventures Silicon Valley, revealed that the company would be directing a significant portion of its investments towards EV parts, accounting for 70% of the total investments this year. In addition to auto parts, Hyundai Mobis is also increasing its focus on automotive chips, aiming to enhance its supply chain of semiconductors.

The company is also exploring investments in startups, while simultaneously scaling back its investments in self-driving technologies. However, the broader Hyundai Motor Group is still actively involved in the development of autonomous tech through its partnership with Motional. Emphasizing the significance of the EV market, Yun highlighted the growing demand for eco-friendly cars, despite a temporary slowdown in the global auto market.

Notably, Hyundai Motor Group is heavily devoted to EV development on a global scale, with a particular emphasis on the United States. According to Yun, the company remains steadfast in its commitment to its electrification strategy, consistently focusing on the success of its products in the marketplace. These plans were underscored in an interview with *The Verge* where Hyundai Motor Group expressed its dedication to the continued advancement of EV technology.

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