Hyundai Motor Group has signed an agreement for strategic cooperation with Toray Industries, Inc., a pioneer in carbon fiber and composite material technology. specifically, the partnership aims to advance material innovation for a new era of mobility.

Toray Industries specializes in fibers and textiles, performance chemicals, carbon fiber composite materials, environmental engineering, and life science. Furthermore, the company is a global leader in carbon fiber. This material has a high adoption rate in advanced industries such as automotive and aviation due to its lightweight, high strength, and heat resistance properties.

Innovative Technology, Materials

Recently, the two companies held an official ceremony that marked the establishment of a foundation for joint R&D and partnership. From Toray Industries, Akihiro Nikkaku, Chairman; Mitsuo Ohya, President; Young-kwan Lee, Chairman of Toray Advanced Materials Korea attended the event. Meanwhile, representatives from Hyudai Group included Jaehoon Chang, President and CEO of Hyundai Motor Company; Ho Sung Song, President and CEO of Kia; Chang Song, President and Head of Advanced Vehicle Platform Division; and Heung-Soo Kim, Executive Vice President and Head of Global Strategy Office.

“Toray Industries has developed innovative technology and materials focusing on electrification and sustainability. (Particularly) to address the needs of customers in the constantly evolving automotive industry,” said President Ohya. “We are happy to partner with Hyundai Motor Group to continue this innovation.”

On the other hand, President Chang Song said, “Hyundai Motor Group aims to leverage this strategic partnership to strengthen its position as a global leader in mobility solutions.” “By combining our automotive expertise with Toray Group’s material technology prowess, we aim to become the first mover and gain a competitive edge in the global market.”

The partnership with Toray Group plays a key role in the Group’s future mobility strategy. The Group is adopting a comprehensive approach by pursuing fundamental advancements in material technology, in addition to electrification and software-defined vehicles (SDVs).

-25 April 2024-