Hyundai Motor and its affiliates will set up a company in the U.S. together to look for business opportunities.

(Reuters) – SEOULHyundai Motor Co. and two of its subsidiaries plan to set up a business in the US together, Hyundai Motor said Thursday.

In May, Hyundai Motor Group said it would spend more than $10 billion in the U.S. by 2025 to work more closely with U.S. companies on advanced technology.