Kia Motors earmarks over 2 trillion won for research
Published: 13 Mar. 2018, 20:39
Kia Motors said Tuesday that it would invest over 2 trillion won ($1.9 billion) in research and development in 2018.
For this year, Kia has earmarked a total of 2.069 trillion won for R&D, up 26 percent from 1.642 trillion won spent a year earlier, a company spokesman said.
The planned R&D expenditure does not include investment in facilities, the spokesman said, adding the money will be mainly spent on future car technologies such as autonomous driving.
In 2017, the portion of R&D spending out of total sales stood at 2.85 percent. Kia posted 53.536 trillion won in overall sales last year.
Yonhap
For this year, Kia has earmarked a total of 2.069 trillion won for R&D, up 26 percent from 1.642 trillion won spent a year earlier, a company spokesman said.
The planned R&D expenditure does not include investment in facilities, the spokesman said, adding the money will be mainly spent on future car technologies such as autonomous driving.
In 2017, the portion of R&D spending out of total sales stood at 2.85 percent. Kia posted 53.536 trillion won in overall sales last year.
Yonhap
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)