Visitors take photos in front of the Hyundai Motor logo during the 2019 Seoul Motor Show in Goyang, South Korea March 28, 2019. REUTERS/Kim Hong-Ji

SEOUL, March 2 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) plans to invest about 95.5 trillion won ($79.21 billion) through 2030, the company said on Wednesday. about 19.4 trillion won in electric vehicles (EV).

At the end of 2020, Hyundai Motor, which together with its subsidiary Kia Corp (000270.KS) is among the world’s 10 largest automakers by sales, said it would aim for an 8-10% share of the global market. electric vehicles by 2040.

In January, Hyundai and Kia forecast a 12.1% increase in their combined global sales for 2022, after sales fell nearly 4% from a target of 6.92 million vehicles last year in due to the shortage of chips. Read more

Shares of Hyundai Motor were trading down 1.7% at 0559 GMT, against the benchmark KOSPI (.KS11) rise of 0.5%.

($1 = 1,205.6800 won)

Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich

Our standards: The Thomson Reuters Trust Principles.