Hyundai Motor Co. Ltd. will spend 214 billion won ($172 million) in 2010 to develop five new models, a company spokesman confirms to Ward’s. The information is part of a recent regulatory filing that specifies the increased investment is being made to make Hyundai more viable in the global economic downturn. The investment is more than double the 79.5 billion won ($63.7 million) Hyundai is spending this year on new-product development, the spokesman says. Hyundai Chairman Chung ...
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