Hyundai Motor Group Clarifies Development Direction for 2023, Continues Electrification Transformation

Easy Car News A few days ago, Chairman of Hyundai Motor Group, Mr. Chung Eui-sun, delivered a New Year's message to the global employees at a New Year's meeting held at Nanyang R&D Center in South Korea, and put forward the group's strategic direction and development vision for 2023. In 2023, the Hyundai Motor Group will continue to strengthen its electrification transformation, make an effort in software development and emerging business areas, and further strengthen its trusting relationship with customers, society and employees.

In terms of electrification, the Hyundai IONIQ 5 and Kia EV6, which are based on the Hyundai Motor Group's dedicated platform for all-electric vehicles, E-GMP, have been honored with the World Car of the Year and European Car of the Year awards in 2022, respectively. "European Car of the Year" in 2022, and also ranked among the top five electric vehicle sellers in the world, successfully kicking off the Group's electrification transition.

Cheng Yi-Shun said, "In 2023, we will continue to develop and upgrade innovative vehicles to strengthen our leadership in the global electric vehicle market and continue the transition to electrification."

Meanwhile, Jung also mentioned that Hyundai Motor Group plans to launch more new EV models in 2023, covering both light-duty and flagship models, including Hyundai's Kona pure-electric version and the Kia EV9 electric SUV, to provide customers with diversified EV mobility experiences and strengthen the group's leading position in the global EV market.

In terms of software development, Hyundai Motor Group plans to realize "Software Defined Vehicle (SDV)" for all of its models by 2025, and will be equipped with over-the-air (OTA) software update technology, providing The SDV will be equipped with over-the-air software update technology (OTA) to provide personalized services including software updates and subscriptions, which will provide comfortable freedom of mobility and innovative user experiences. In addition, the Hyundai Motor Group will continue to provide innovative services by establishing a data platform that connects and processes data throughout the vehicle's life cycle.

In terms of emerging businesses, Hyundai Motor Group will continue to cultivate new growth engines in emerging fields such as autonomous driving, future mobility, robotics, new energy and new materials. In the face of the development trend of autonomous driving, Hyundai Motor Group plans to launch models capable of L3-level highway autonomous driving in South Korea, promote the commercialization of L4-level Robotaxi in North America, and launch the Janisys G90 and Kia EV9 equipped with Highway Driving Pilot (HDP) function in the first half of this year.

In addition, Motional, an autonomous driving technology company founded as a joint venture between Hyundai Motor Group and Aptiv, will continue to promote the commercialization of the IONIQ (Eni Kryptonite) 5 Robotaxi, which is equipped with L4-level autonomous driving functions, in cooperation with Uber and other car***sharing companies in the United States.

Meanwhile, Jung Eui-seon emphasized Hyundai Motor Group's ambitions in the future of mobility and robotics in his congratulatory message. He said that in the field of future mobility, Hyundai Motor Group will launch Purpose Built Vehicles (PBV), which meets the mobility needs of people and things, develop the Advanced Air Mobility (AAM) prototype, and plan to further expand the number of Kia PBV Niro Plus model number this year, and launching a dedicated PBV model based on a skateboard platform by 2025, reinforcing the Group's leading position in mobility services.

In the field of robotics, the Hyundai Motor Group will strengthen cooperation between the Robotics Laboratory, Boston Dynamics and the Boston Dynamics AI Institute to create humanized products that bring well-being and convenience to humans, and also plans to carry out through the Boston Dynamics AI Institute There are also plans to develop high-level AI safety functions through the Boston Dynamics AI Institute to provide synergistic development in different emerging fields.

It is worth mentioning that the Hyundai Motor Group is also actively laying out the new energy field, covering hydrogen energy, power trading brokers, and Small Modular Reactors (SMRs), as well as continually accelerating the development of safer and higher-strength steel products and new materials for the future of the mobility field, to continuously cultivate future growth engines.

The Hyundai Motor Group continues to carry out a variety of social responsibility activities to achieve carbon neutrality and build a sustainable future. By 2040, the Hyundai Motor Group will supply only zero-carbon emission electrified models in major markets around the world and participate in projects to build and restore marine ecosystems, such as beach restoration and recycling of marine plastics.

Hyundai Motor Group also plans to apply 100% renewable energy in factories around the world. In addition, Hyundai Motor Group is supporting small and medium-sized auto parts companies in their transition to electrification through activities such as Hyundai Motor's "for Tomorrow" program and Kia's "Green Light Project," which are aimed at helping the next generation and the underprivileged to grow. growth for the benefit of the next generation and the underprivileged.

The innovative development of the Hyundai Motor Group's business in China will first and foremost focus on building a sustainable management system. To this end, the Hyundai Motor Group, together with Hyundai Beijing, Kia China, and the Korea headquarters***, has formulated the medium- and long-term business direction and strategy of the Hyundai Motor Group in China, and empowered a sustainable management system through a diversified business model and the transformation of the Hyundai Commercial Vehicle China Corporation.

Secondly, "HTWO Guangzhou" will start mass production of hydrogen fuel cell system this year, and the Hyundai Motor Group will continue to build a sound ecosystem of hydrogen energy industry in China with this opportunity.

The Hyundai Motor Group will set up a Marketing Intelligence (MI) Center in China this year, which will analyze the rapidly developing Chinese market in depth in cooperation with the Management Research Institute and the Big Data Center, and provide effective support for the direction of business development in China.

In addition, the Hyundai Motor Group will actively build up an ESG management system in China, and continue to carry out social contribution activities to fulfill its corporate social responsibility.

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