One year in office as Chairman Chung Eui-sun… The essence of the group ‘Manufacturing → Happiness of mankind’ has changed

Chung Eui-sun, chairman of Hyundai Motor Group, will be inaugurated on the 14th. It is evaluated that Chairman Chung Eui-sun put a lot of effort into re-establishing and publicizing the essential reason and role of Hyundai Motor Group for a year. It has been emphasizing that the group’s mission and ultimate goal is to contribute to human life, happiness, progress and development beyond automobiles. In this process, they actively presented innovations to make their imaginations real, such as flying cars, next-generation hydrogen fuel cells, and robots.

Chairman Chung’s philosophy that the direction of innovation is humanity is differentiated from the traditional approach to corporate values ​​and roles, while also reaching true responsibility for humanity. At the same time, it leads to concerns about how to change human life and create new values. It is known that Chairman Jung emphasizes that the future direction of the group is to solve the most difficult and difficult things for people. In this year’s New Year’s message, he also stated that the mission that all of the group’s executives and employees must keep is to realize mankind’s dream of safe and free movement and a peaceful life together.

The future direction of Hyundai Motor Group, led by Chairman Chung, is materialized in robotics, urban air mobility (UAM), autonomous driving, and hydrogen vision. In recent years, the future generation is often referred to. He also expressed the urgency that there is not much time as a result of the idea that finding solutions to global climate change for future generations is the responsibility and duty of the present generation. Chairman Chung, who visited the United States in July, emphasized that our generation must play a role and overcome it, even if there are difficulties for a sustainable future.

It is in this context that Chairman Chung and Hyundai Motor Group claim to be global evangelists of clean energy hydrogen. Chairman Chung’s usual belief is that immediate action, not fancy phrases or research, is necessary for a sustainable planet. It can also be seen as a major factor in the world’s most active and quick steps in the realization of a hydrogen society. Last month, Hyundai Motor Company declared ‘carbon neutrality by 2045’. Major affiliates of the group are in the process of joining RE100, a global campaign that converts 100% of used electricity to renewable energy.
Hyundai Motor Group said that it is significantly expanding eco-friendly social contribution activities under the leadership of Chairman Chung. He emphasized that it is systematizing eco-friendly social contribution projects for each region around the world and strengthening support for eco-friendly social enterprises and startups. The atmosphere inside the group is also changing according to the future vision. Chairman Jeong is putting a lot of effort into realizing an organizational culture that starts boldly, challenges, and tries quickly. We have a belief that changes in corporate roles will eventually come from internal members. Chairman Jung has stated several times in internal forums that he regards executives and employees as future core customers. In fact, Chairman Chung is known to pursue casual communication with employees by listening to customers’ opinions. It is also evaluated that he led the group’s growth by flexibly responding to the challenging global business environment while presenting a future vision. The group gathered its capabilities amid uncertain conditions such as the spread of COVID-19, shortage of semiconductors for vehicles, rising raw material prices, and the spread of protectionism due to the US-China trade conflict. In particular, Chairman Chung responded to the difficult market environment with the two keywords ‘customer’ and ‘quality’. As a result, Hyundai Motor and Kia’s sales this year increased by 10% compared to the previous year, and they are increasing the sales proportion of high-value-added sports utility vehicles (SUVs) and luxury cars. By expanding the sales of eco-friendly vehicles such as electric vehicles and hydrogen electric vehicles, the company is solidifying its image as an eco-friendly future car brand.

○ Chairman Chung Eui-sun, who leads the realization of imagination… “Technology is a means to man, not an end”

Chairman Chung Eui-sun’s idea to provide a higher level of life experience for mankind by quickly realizing the future image of the imagination is accelerating the group’s leap while redefining the reason for the company’s existence. Specifically, it is showing prominence in the robotics field by acquiring Boston Dynamics, a world-class robot company, and strengthening its own robot development capabilities through an in-house robotics lab.

Chairman Jung chose robotics as the first large-scale merger and acquisition (M&A) field since taking office. Hyundai Motor Group decided to acquire an 80% stake in Boston Dynamics in December of last year and completed the M&A in June of this year.

Boston Dynamics has the world’s best technology in comprehensive aspects such as autonomous driving (gait), cognition, and control, which are essential for robot operation, including the development of the four-legged walking robot Spot and the research humanoid robot Atlas. are doing The company plans to commercialize the logistics robot Strech, which can load and unload 800 boxes of up to 23 kg per hour, within next year and expand its business areas to manufacturing, logistics, and construction.

Chairman Chung has always stated that robotics should be used only as a means for humans, not as an end in technology itself.

The Robotics Lab, an organization within the group, is also promoting the development of robots that coexist with humans, such as wearable robots, artificial intelligence (AI) service robots, and robotic mobility. Last year, it developed a medical wearable robot ‘MEX’ to help paraplegic patients walk. In addition, it unveiled ‘VEX’, a wearable robot that assists workers at the production site, ‘DAL-e’, an AI service robot, and ‘IONIQ Scooter’, a robotic mobility. Recently, in cooperation with Boston Dynamics, a factory safety service robot using spot was developed and is being piloted at Kia Autoland Gwangmyeong.

It is also laying the groundwork for the popularization of UAM that extends the mobile space to the sky. UAM is regarded as an important axis to realize the human dream of safe and free movement, which is the goal of Hyundai Motor Group. Chairman Jung has emphasized that “it is our calling to provide sincere service so that people can go to the place they want without stress.”

At the end of last year, Hyundai Motor Group unveiled a specific UAM development plan. It will introduce a fully electrified UAM model optimized for urban operation in 2028 and regional air mobility products that connect adjacent cities to each other in the 2030s. In addition, using hydrogen fuel cell technology, it is promoting the development of a hydrogen fuel cell powertrain for aviation with unparalleled efficiency and mileage.

Collaboration on UAM landing sites is also in progress. In addition to business agreements with the Seoul Metropolitan Government, it is closely negotiating with major US cities such as Los Angeles and Singapore to open new markets. The organization is also expanding, such as the establishment of the Washington UAM corporation and the recruitment of aerospace technology development experts.

In the field of autonomous driving, we are one step closer to the goal of realizing a new mobility experience for customers with the most innovative and reliable technology.

Hyundai Motor Company unveiled the Ioniq 5-based robot taxi jointly developed with Motional, a self-driving joint venture, in September at the Internationale Automobil-Ausstellung Mobility (IAA Mobility) in Munich, Germany. In cooperation with Lyft, a global ride-sharing company, Motional aims to start a fully unmanned autonomous driving service using the IONIQ 5 robot taxi in 2023. Motional is said to have world-class autonomous driving technology. In the US state of Nevada, it is the first in the industry to obtain an unmanned autonomous driving test license and is continuously upgrading its technology.

At the same time, under the leadership of Chairman Chung, Hyundai Motor Group is promoting an electrification strategy centered on electric vehicles and hydrogen electric vehicles as a key field of future smart mobility.

Vehicle electrification is recognized as one of the practical solutions for climate change response and future energy conversion beyond the evolution of means of transportation. Hyundai Motor Group plans to pursue a fundamental change in the way people experience automobiles and promote a sustainable lifestyle through the convergence of electrification and autonomous driving technologies.

Hyundai Motor Company, Kia Motors, and Genesis launched the Ioniq 5, EV6, and GV60 in turn based on E-GMP, a platform dedicated to electric vehicles this year. It is attracting attention as it provides new mobility experiences such as V2L (Vehicle to Load) as well as world-class mileage, product quality, and safety.

A mid- to long-term electrification plan has also been materialized. It plans to increase the proportion of electrified models in global sales to 80% by 2040. Genesis will launch all new cars as electrified models from 2025. The goal is to complete a hydrogen and battery electric vehicle lineup consisting of a total of eight car models by 2030. Kia plans to increase the proportion of eco-friendly car sales in major markets to 90% by 2035.

At the same time, it is accelerating innovation in the mobility service sector. Hyundai Motor Company and Kia Motors established a ‘TaaS (Transportation as a Service)’ headquarters by consolidating their mobility service capabilities in April. This organization is a department in charge of establishing, planning, and operating a global mobility service strategy. The plan is to improve the competitiveness of the global mobility business by integrating existing mobility services to meet consumer needs and introducing a new service model based on user data. It also creates an environment where various companies can participate and collaborate.

Hyundai Motor Group is also putting a lot of effort into creating a future mobility ecosystem that includes partners. At the ‘Partnership Day’ for business partners earlier this year, Chairman Chung expressed his will to grow together with business partners. Hyundai Motor Group is supporting its suppliers to successfully transform into eco-friendly future mobility parts makers. In April, it also created a fund jointly with the government and financial circles for domestic parts makers who want to transform into an eco-friendly future car parts company. The cooperative ecosystem is also expanding to start-ups. Hyundai Motor Group launched the Zero One Fund 1 and 2 and is investing in startups in the future, such as mobility, eco-friendly AI, and connected cars. A total of 87 partners and 412 startups (including in-house startups) are supporting mutual cooperation in various fields such as electrification systems, smart factories, eco-friendly energy-related businesses, and IT and software.

○ ‘Hydrogen’ that Chairman Chung Eui-sun speaks… “The solution to protect the future, not the business”

Hyundai Motor Group is considered one of the most active companies in the global market to realize a hydrogen society. Chairman Chung Eui-sun said that he views hydrogen from the perspective of mankind and future generations. For Chairman Chung, hydrogen is a solution for the future, the earth, and mankind. The vision of a hydrogen society and the realization of carbon neutrality are part of the will of Chairman Chung Eui-sun and Hyundai Motor Group to overcome the global climate change crisis. “Investing in hydrogen is about protecting the future by using all possible technological means,” said Chairman Chung.

The Hydrogen Wave, held by Hyundai Motor Group last month, is evaluated to have materialized the vision of a future hydrogen society drawn by Chairman Chung and the group. Hyundai Motor Group unveiled the ‘Hydrogen Consumption 2040’, which aims to make 2040 the first year of popularization of hydrogen energy, and blueprints such as world-class hydrogen fuel cell technology and hydrogen mobility.

By 2028, the hydrogen fuel cell system will be applied to all commercial vehicle lineups, and the unmanned long-distance transport system concept mobility ‘trailer drone’ and 100kW and 200kW class next-generation fuel cell system prototypes were also introduced.

In addition to automobiles, the fuel cell system will be upgraded by greatly expanding its utility in all areas of mobility such as trams, trains, ships, and UAMs, as well as houses, buildings, factories, and power plants, etc.

“Hyundai Motor Group, as a responsible global corporate citizen, will make active efforts to advance the hydrogen society for the future of mankind,” said Chairman Chung Eui-sun.

Hyundai Motor Group is launching its global business in earnest through the hydrogen fuel cell system brand ‘HTWO’. HTWO stands for ‘Hydrogen for Humanity’, and it contains the meaning of providing high value to mankind beyond the simple energy dimension. In March, the construction of the first overseas hydrogen fuel cell system production plant ‘HTWO Guangzhou’ began.

Chairman Chung is taking active steps to spread global sympathy for hydrogen in order to respond to climate change issues and change the energy paradigm. As the first official move since taking office last year, he attended the meeting of the Hydrogen Economy Committee, a domestic hydrogen economy control tower. This year, he led the launch of the ‘Korea H2 Business Summit’, a CEO consultative body to promote cooperation between domestic companies’ hydrogen business and expand the base of the hydrogen industry. Overseas, he is contributing to the global agenda of hydrogen by serving as the co-chair of the ‘Hydrogen Committee’. Hyundai Motor Group’s hydrogen electric vehicles are attracting attention overseas after passenger vehicles. About 50 Hyundai Suso electric trucks are in operation in Switzerland. In California, USA, 30 units will be supplied from 2023. Recently, it delivered a hydrogen bus ‘Eleccity’ to Munich, Germany.

○ 1 year transcript of the inauguration of Chairman Chung Eui-sun… “Increasing performance and market share, strengthening the position of eco-friendly brands”

Breaking through business uncertainty with new cars and services that exceed expectations, solidifying an eco-friendly brand position

At the time of the inauguration of Chairman Chung Eui-sun, the global business environment was extremely opaque. Uncertainties have intensified due to the spread of COVID-19, rising raw material prices, and strengthening protectionism. From the beginning of this year, automakers faced difficulties due to a shortage of semiconductors for vehicles.

However, Hyundai and Kia performed well in the global market. It has secured the competitiveness of finished cars with new cars with higher-than-expected marketability and customized services, and is recording a significantly improved performance compared to last year. The two brands sold a total of 5.05 million units in the global market until last month. This is an increase of 13.1% compared to the same period last year. It is evaluated that it quickly made up for the decline caused by the pandemic last year.

In particular, it is increasing its market share in major advanced markets such as the US and Europe, exceeding the growth rate of industrial demand. Hyundai Motor and Kia grew 33.1% YoY, while overall U.S. sales increased 13.3% YoY. A total of 1175,000 units were sold. Its market share increased by 1.5% compared to the previous year to 10%. In Europe, 663,000 units were sold until August, up 28.3% from last year. As overall European industrial demand increased by only 12.7%, Hyundai Motor and Kia’s market share rose from 7.1% last year to 8.1% this year. It is also evaluated that achieving a double-digit market share in the European market, a battleground for automobiles, is imminent. Along with the increase in sales volume, profitability improvement is also expected through qualitative growth. This is because the proportion of sales of high value-added vehicles such as sports utility vehicles (SUVs), luxury vehicles, and high-performance vehicles is increasing significantly. Genesis sold over 144,000 units in the world, including Korea, up to last month, a 57% increase from the same period last year. Genesis will establish a corporation in Europe and China this year and start targeting the local market in earnest.

It is also solidifying its position as an eco-friendly brand. Hyundai and Kia sold 532,000 eco-friendly cars through September this year, up 68 percent from the previous year. The total sales of electric vehicles, including hydrogen electric vehicles, increased by 70% to about 176,000 units. NEXO’s hydrogen electric vehicle surpassed 10,000 units in cumulative sales for the first time among the world’s hydrogen electric vehicles last year. It is expected that the cumulative sales record of 20,000 units will be achieved by the end of this year at the earliest.

Reporter Min-beom Kim, [email protected]

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