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Hyundai Motor Group is integrating its defense businesses with a $269.9 million investment, as Hyundai Rotem acquires Hyundai WIA's defense division.
Hyundai Rotem, a subsidiary of South Korea's Hyundai Motor Group, announced Monday that it had acquired the defense division of Hyundai WIA for 35.84 billion won (approximately $269.9 million). The move aims to consolidate tank and artillery production and bring the manufacturing of the K2 Black Panther tank’s 120-millimeter main gun under its umbrella, thereby strengthening its competitiveness in the global defense market.
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