Which reads as $34.6 billion in five years time or, $50 billion over the next decade.
I'd take all these figures with a healthy grain of salt, but Hyundai is getting excellent PR mileage out of these announcements.
Hyundai is big, but that is insane amount of money. They're going to have to finance a lot of it since their profit is "only" $5 billion per year.
Good on them for such bold decision.
Yes, it's bold. But perhaps too much so?
It is quite significant. Ford is the biggest one I can think of with about a $1b each for Argo AI and Rivian. Toyota AI Ventures is only $100m.
So while I am sure Hyundai will spend this 87bn on car related stuff and multiplier effects etc, I just happen to think that since the money exists anyway as they are borrowing it, perhaps it should all be turned into VC funds
I mean look at SoftBank. if you took 100bn and handed it out to a million start ups globally what could you expect. Another WeWork? or better?
So - the million start up fund? Whose in?