Hyundai Motor Group (the Group) held its 2024 New Year address at Kia AutoLand Gwangmyeong, its first dedicated electric vehicle (EV) plant in Korea and outlined its future focus area.
Under the theme ‘Together, a Valuable Start,’ Hyundai Motor Group Executive Chair Euisun Chung stated, “Our mission this year will be ‘Consistency and Sustainability’ consistently strengthening our capabilities, which will allow us to scale any challenges and achieve sustainable progress.”
He further said that ‘consistent change’ and ‘sustainable growth’ are the keywords for the Group’s success in the face of increasing global uncertainty and growing competition.
Hyundai Motor Group says the series of innovations in electrification will start at AutoLand Gwangmyeong, the Group’s first EV-dedicated plant, and expand to Ulsan, the United States and other geographies.
The Group will complete the redevelopment of the Kia AutoLand Gwangmyeong EV Plant in the second quarter of this year, which will produce the brand’s EV3, a compact EV, for domestic and international sales. Subsequently, Hyundai Motor Group Metaplant America (HMGMA), Kia’s AutoLand Hwaseong EV Plant, and the Hyundai Motor Ulsan EV Plant will be brought online sequentially to introduce innovative EVs to the global market, with an overall Group strategy to become a top three global EV manufacturer by 2030.
Highlighting the importance of circular economy and carbon neutrality he said, “We can help nurture a global hydrogen ecosystem and strengthen carbon-neutral activities through our Small Modular Reactors and clean energy solutions. In addition, we can take the lead in social responsibility as a global enterprise, by revitalising the circular economy that recycles resources, such as EV batteries.”
The Group holds the distinction of being the world’s first organisation to commercialise hydrogen fuel-cell EVs and utilise hydrogen energy effectively. Furthermore, the Group is developing a hydrogen business ecosystem, encompassing the entire lifecycle, from hydrogen production to transportation, storage, and utilisation through connecting the hydrogen business capabilities of each Hyundai affiliate.
