Hyundai Motor Teams Up with Mubadala for Future Mobility and Green Tech

Hyundai Motor Teams Up with Mubadala for Future Mobility and Green Tech
Source: Hyundai Motors

Hyundai and Mubadala’s Joint Effort for Future Mobility and Green Tech

Hyundai Motor Company, a prominent global player in the automotive industry, and Mubadala Investment Company, a sovereign investor headquartered in Abu Dhabi, have officially inked a memorandum of understanding (MOU) to explore collaborative opportunities in the realms of future mobility and advanced technologies. This strategic partnership signifies a significant step forward in sustainable and futuristic business strategies, bringing together the expertise of two industry leaders.

The MOU signing ceremony, held in Abu Dhabi, was a momentous occasion attended by key figures, including Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company. This alliance marks the initiation of a strategic collaboration aimed at driving advancements in future mobility and clean technologies.

Within the framework of this agreement, both Hyundai Motor Company and Mubadala Investment Company will pool resources, jointly invest, and exchange expertise. This collaborative effort will leverage Mubadala’s investment capabilities and Hyundai Motor’s proficiency in various domains, such as green steel production, green aluminum production and recycling, advanced air mobility (AAM), and electric vehicle infrastructure.

Moreover, the partnership will actively explore new investment opportunities. Jaehoon Chang underscored the alignment between Hyundai Motor’s eco-friendly and futuristic strategies—encompassing hydrogen, green steel, green aluminum, and advanced mobility technologies—and Mubadala’s diverse investment portfolio. He reiterated Hyundai Motor’s dedication to sustainable future endeavors and its role in contributing to the global energy transition.

Expressing enthusiasm for this strategic collaboration, Waleed Al Mokarrab Al Muhairi emphasized its alignment with Mubadala’s strategic growth and sustainability goals. He eagerly anticipates uncovering fresh investment opportunities in mobility, green technology, and energy sectors, further expanding Mubadala’s footprint in South Korea.

Established in 1967, Hyundai Motor Company operates in over 200 countries with a workforce exceeding 120,000 employees. Embracing the vision of ‘Progress for Humanity,’ the company is evolving into a Smart Mobility Solution Provider. Investing in cutting-edge technologies like robotics and AAM, Hyundai aims to introduce revolutionary mobility solutions and future services, maintaining a steadfast commitment to a sustainable future, with a focus on zero-emission vehicles featuring leading hydrogen fuel cell and EV technologies.

Mubadala Investment Company, managing a diverse global portfolio with a worth of US$276 billion (AED 1015 billion), is dedicated to generating sustainable returns for the Government of Abu Dhabi. With a presence across six continents, Mubadala invests in various sectors and asset classes, striving to drive sustainable growth and profit while supporting the diversification and global integration of the UAE’s economy.

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Source(s): Aluminium Insider

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