S.Korea’s Hyundai Motor and its affiliates to jointly set up company in U.S. to explore businesses

SEOUL, June 30 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) and its two affiliates plan to jointly set up a company in the United States to explore businesses, Hyundai Motor said on Thursday.

In May, Hyundai Motor Group said it plans to invest more than $10 billion in the United States by 2025 to strengthen collaboration with U.S. firms in advanced technology.Reporting by Heekyong Yang Editing by Raissa Kasolowsky