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Hyundai, Toray Team Up to Shape New Era of Mobility through Material Innovation
The Japanese composites and carbon-fiber supplier will develop lightweight and high-strength materials for environmentally friendly and high-performance vehicles in collaboration with Korean automaker Hyundai.
Stephen Moore
May 11, 2024
1 Min Read
From Toray Industries, Akihiro Nikkaku, Chairman; Mitsuo Ohya, President; and Young-kwan Lee, Chairman of Toray Advanced Materials Korea, attended the official ceremony to establish the foundation for joint research and development. Representatives from the Hyundai Motor Group included Jaehoon Chang, President and CEO; Ho Sung Song, President and CEO of Kia; Chang Song, President and Head of Advanced Vehicle Platform Division; and Heung-Soo Kim, Executive Vice President and Head of Global Strategy Office. Image courtesy of Hyundai
Korean automaker Hyundai has signed a strategic cooperation agreement with Japan’s Toray Industries, a pioneer in carbon fiber and composite material technology, to advance material innovation for a new era of mobility.
The partnership aims to secure capabilities to develop lightweight and high-strength materials for environmentally friendly and high-performance vehicles. Joint R&D areas include carbon-fiber-reinforced plastic (CFRP) parts that are expected to improve the performance of EV batteries and motors. Through the partnership, Hyundai expects to support its long-term electrification strategy, enhance customer experience, and ensure vehicle safety.
“Toray Industries has developed innovative technology and materials focusing on electrification and sustainability to address the needs of customers in the constantly evolving automotive industry,” said President Mitsuo Ohya. “We are happy to partner with Hyundai Motor Group to continue this innovation.”
“Hyundai Motor Group aims to leverage this strategic partnership to strengthen its position as a global leader in mobility solutions,” said President Chang Song. “By combining our automotive expertise with Toray’s material technology prowess, we aim to become the first mover and gain a competitive edge in the global market.”
The partnership with Toray Group will plays a key role in the Hyundai Group’s future mobility strategy. Hyundai is adopting a comprehensive approach by pursuing fundamental advances in material technology, in addition to electrification and software-defined vehicles.
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