Hyundai Motor Group, Toray Group Team Up to Shape New Era of Mobility through Material Innovation

Toray Industries, Inc., a leader in carbon fiber and composite material technology, and the Hyundai Motor Group (the Group) have inked a strategic partnership agreement to promote material innovation for a new era of mobility.

Toray Industries is an expert in environmental engineering, life science, carbon fiber composite materials, fibers and textiles, and performance chemicals. Because of its exceptional strength, low weight, and ability to withstand heat, carbon fiber is a material that is widely used in high-tech industries like aviation and automotive. Toray Industries is well known for being the world leader in this regard.

The formal event to lay the groundwork for cooperative research and development (R&D) and a long-term relationship was attended by Young-kwan Lee, Chairman of Toray Advanced Materials Korea, Mitsuo Ohya, President, and Chairman of Toray Industries, Akihiro Nikkaku.

President and CEO of Hyundai Motor Company Jaehoon Chang, President and CEO of Kia Ho Sung Song, President and Head of the Advanced Vehicle Platform Division Chang Song, and Executive Vice President and Head of the Global Strategy Office Heung-Soo Kim were among the representatives of the Group.

In order to meet consumer demands in the rapidly changing automotive sector, “Toray Industries has developed innovative technology and materials focusing on electrification and sustainability,” stated President Ohya. “To further this innovation, we are delighted to collaborate with Hyundai Motor Group.”

“The goal of this strategic partnership is to enhance Hyundai Motor Group’s standing as a worldwide leader in mobility solutions,” stated President Chang Song. “We want to become the industry leader by fusing Toray Group’s material technological know-how with our automotive knowledge.

The Group’s future mobility strategy heavily relies on the cooperation with Toray Group. By exploring basic improvements in material technology, together with electrification and software-defined vehicles (SDVs), the Group is taking a complete approach.

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