Hyundai will not issue new shares in this IPO.

On October 30, Hyundai Motor's luxury brand Genesus held a full staff meeting in China。At the meeting, Li Zhe, chief coordinator of Geneticus China, said that in the past less than 10 months, Geneticus has lost up to 1.2 billion yuan.。In the three years since entering China, the total loss has reached 3 billion yuan, and the average bicycle marketing cost is as high as 710,000 yuan.。In addition, Li Zhe reprimanded the Chinese employees of Genesus, saying that they had no feelings for the company.。He said, "In the past three years, not a single Genesus China employee has purchased a vehicle of this brand, and if you want to leave the company now for external development, he will welcome it."。Meanwhile, next month, the South Korean headquarters will send an audit team to China to conduct a comprehensive audit of all past projects and expenses of Genesus China.。

On June 20, South Korean auto giant Hyundai Motor announced that it will invest about 109 in the next ten years..4 trillion won (about 854.100 million US dollars) to accelerate the transformation to smart mobile solution providers; of which about 35.8 trillion won (about 278.$500 million) for electric vehicles。