Hyundai to invest $7.4 billion in U.S. by 2025, with electric cars in focus

FILE PHOTO: A shop sign of Hyundai is seen outside a car showroom in Bletchley, Milton Keynes, Britain, May 31, 2020. REUTERS/Andrew Boyers/File Photo

(Reuters) -South Korea's Hyundai Motor Group said on Thursday it planned to invest $7.4 billion in the United States by 2025 to produce electric vehicles, upgrade production facilities and further its investment in smart mobility solutions.

The announcement came before U.S. President Joe Biden meets with South Korean President Moon Jae-in in Washington next week in talks that are expected cover North Korea, COVID-19 vaccines and other topics.