Hyundai Motor, Kia on path to raise global profile with upgraded ratings

Headquarters of Hyundai Motor and Kia in Seoul / Courtesy of Hyundai Motor Group

Hyundai Motor and Kia are advancing their global profile by reinforcing their commitment to future mobility, following a significant achievement of receiving triple-A ratings from the world’s top three credit rating agencies, the carmakers said Thursday.

The latest outcome will also pave the way for the carmakers to strengthen their position in the global financial market. The companies anticipate that the upgraded ratings will enhance their brand reputation and attract more investments.

This will help the companies execute their investment plans on schedule. Hyundai Motor and Kia have outlined their mid- to long-term investment strategies to stay competitive in the growing field of future mobility driven by electrification. Under these plans, Hyundai Motor will invest 121 trillion won ($90.6 billion) over the next decade, while Kia is set to invest 38 trillion won over the next five years.

“We will proactively and transparently communicate with more investors in line with our elevated reputation in not only the global auto industry but 추천 also financial markets and execute our future strategies without a hitch,” an official from Hyundai Motor said.

The two affiliates of Hyundai Motor Group sold more than 7.3 million vehicles here and abroad in 2023. The group became the world’s third-largest auto group, following Toyota and Volkswagen.

Global media outlets also spoke highly of the carmakers’ growing influence in the global mobility industry, releasing reports on their recent ratings upgrades.

Earlier, S&P clarified its latest decision for the ratings change for the carmakers, citing Hyundai Motor Group’s stable and balanced production capability for electric vehicles and hybrid cars.

The official added, “Hyundai Motor Group will be able to speed up our drive for future businesses, such as software-defined vehicles, advanced air mobility and robotics, by gaining more and more recognition and trust from global investors.”

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