Hyundai Motor, the largest South Korean automaker in terms of sales, will invest 61 trillion won ($ 51 billion) in production development by 2025, said company management in a statement on Wednesday.

The purpose of large-scale investments is to increase the competitiveness of existing businesses and create new opportunities through investments in future technologies, TASS reported.

A total of 20 trillion won ($ 17 billion) will be spent on the development, improvement and production of unmanned and electric vehicles.

According to the company, by 2025 it plans to increase its operating profit ratio from the current 5% to 8%.