Hyundai Motor Group plans to develop materials that enhance the performance of electric vehicles. To achieve this goal, it entered into a strategic partnership with Japanese material manufacturer Toray Industries.
Hyundai plans to proactively use new materials in its future mobility products, including its future electric vehicle designs. Hyundai and Toray will work together to develop lightweight, high-strength materials that can enhance the performance and safety of Korean vehicles.
The partnership will include developing carbon fiber-reinforced polymer parts that would improve the performance of EV batteries and motors.
“Hyundai Motor Group aims to leverage this strategic partnership to strengthen its position as a global leader in mobility solutions.
“By combining our automotive expertise with Toray Group’s material technological prowess, we aim to become the first mover and gain a competitive edge in the global market,” said Song Chang-hyeon, the Head of Hyundai Motor Group’s advanced platform division.
Hyundai has been making waves in the U.S. EV market. In 2023, it sold the second-most EVs in the U.S. For the first quarter, the South Korean automaker reported an EV sales jump of 62% year-over-year in the United States. Hyundai Motor of America shared reported that its EV sales grew 100%.
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