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Hyundai Motor and Mubadala Collaborate on Future Business Opportunities
19 Dec, 2023 05:02 PM
- Hyundai Motor Company and Mubadala Investment Company to explore collaboration on future mobility and cutting-edge technologies, including the hydrogen value chain and production
- The parties will also explore potential investment opportunities
SEOUL/ABU DHABI, December 15, 2023 – Hyundai Motor Company and Mubadala Investment Company “Mubadala”, an Abu Dhabi-based global sovereign investor, have signed a memorandum of understanding (MOU) to jointly explore potential business opportunities and synergies for future mobility and technologies.
The signing ceremony, which took place in Abu Dhabi, was attended by Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala Investment Company. This marks the beginning of a strategic collaboration that will drive progress in future mobility and clean technologies.
The agreement will allow both parties to jointly invest and share expertise, leveraging the advantages of Mubadala's investments and Hyundai Motor's expertise in various fields, including green steel production, green aluminum production and recycling, as well as advanced air mobility (AAM), and infrastructure for electric vehicles.
In addition, Hyundai Motor and Mubadala will seek to unlock potential investment opportunities.
“This collaboration capitalizes on the organic synergy between Hyundai Motor's eco-friendly and futuristic business strategies, including hydrogen, green steel, green aluminum as well as future mobility technologies, and Mubadala's investment portfolio,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “Hyundai Motor will continue to pursue diverse partnerships to achieve a sustainable future and contribute to the global energy transition.”
Commenting on this agreement, Waleed AI Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company, said: “This strategic partnership with Hyundai Motor Company marks a significant milestone in our journey to further diversify our portfolio across sectors that are shaping the future of the global economy such as mobility, green technology, and energy. Through our combined strengths and expertise, we will surface new investment opportunities that are in line with our strategic growth ambitions and sustainability agendas. We look forward to collaborating with Hyundai Motor Company and expanding our presence in South Korea."
About Hyundai Motor Company
Established in 1967, Hyundai
Motor Company is present in over 200 countries with more than 120,000 employees
dedicated to tackling real-world mobility challenges around the globe. Based on
the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its
transformation into a Smart Mobility Solution Provider. The company invests in
advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring
about revolutionary mobility solutions, while pursuing open innovation to
introduce future mobility services. In pursuit of sustainable future for the
world, Hyundai will continue its efforts to introduce zero emission vehicles
equipped with industry-leading hydrogen fuel cell and EV technologies.
More information about Hyundai Motor and its
products can be found at:
https://www.hyundai.com/worldwide/en/ or Newsroom: Media
Hub by Hyundai
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor
managing a global portfolio, aimed at generating sustainable financial returns
for the Government of Abu Dhabi.
Mubadala’s $276 billion
(AED 1015 billion) portfolio spans six continents with interests in multiple
sectors and asset classes. We leverage our deep sectoral expertise and
long-standing partnerships to drive sustainable growth and profit, while
supporting the continued diversification and global integration of the economy
of the United Arab Emirates.
For more information about Mubadala Investment
Company, please visit: www.mubadala.com
Contact:
Dain Kang
Global PR /
Hyundai Motor Company
di@hyundai.com
Layla Kurdieh
Brunswick Group
Ikurdieh@brunswickgroup.com
Contact us
- (+65) 6335 3984
(10:00am – 6:00pm, Mon – Sun)