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Hyundai Motor to boost the auto business margin to 7 percent by 2022

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Hyundai Motor Co said on February 27 it plans to boost the core automotive businesses’ operating profit margin to 7 percent by 2022, compared with 2.1 percent in 2018, as part of its mid- to long-term plan.

The automaker said it also plans to invest 45.3 trillion won ($40.48 billion) over the next five years in research and development, capital expenditure and future growth areas such as autonomous driving technologies, vehicle electrification and mobility services.

($1 = 1,119.0500 won)

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