Seoul
Hyundai Motor, South Korea’s leading carmaker, has announced a strategic partnership with the United Arab Emirates’ sovereign wealth fund, Mubadala Investment Co., to bolster its presence in the eco-friendly and future mobility market. The collaboration, outlined in a memorandum of understanding, encompasses various areas, including hydrogen, green aluminum, eco-friendly mobility, and advanced air mobility (AAM). Key initiatives under the agreement involve expanding Hyundai’s resource-recycling hydrogen production business, focusing on the clean production of hydrogen using biogas from organic waste. Additionally, the partnership aims to advance green steel production, where hydrogen is utilized in the steel-making process. In the realm of eco-friendly mobility, the collaboration includes the creation of electric vehicle charging infrastructure on the Iberian Peninsula in southwestern Europe, along with the supply of hydrogen vehicles and the development of electricity-based fuel. Chang Jae-hoon, CEO of Hyundai Motor, expressed the company’s commitment to various collaborations that contribute to a more sustainable society, emphasizing the goal of securing new growth engines and playing a role in the global energy paradigm shift. In a separate development, industry data revealed that the combined vehicle sales of Hyundai Motor and its affiliate Kia in the United States surpassed 1.5 million units for the year. Hyundai and Kia achieved sales of 788,403 and 722,176 units, respectively, during the January-November period. This milestone represents the highest yearly sales since Hyundai entered the U.S. market in 1986, surpassing the previous record of 1.49 million units in 2021
