Hyundai Motor and Mubadala Investment Company Join Forces for Sustainable Mobility and Technology Advancements
Hyundai Motor Company and Mubadala Investment Company have officially inked a memorandum of understanding (MOU) to explore collaborative opportunities in future mobility and advanced technologies. The strategic partnership, with a focus on hydrogen energy, green aluminium production, and innovative technologies, marks a significant leap in sustainable business strategies for both global entities.
The MOU signing ceremony in Abu Dhabi witnessed the presence of key figures, including Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company. This collaboration signifies the initiation of a strategic alliance geared towards driving advancements in future mobility and clean technologies.
As part of the agreement, both Hyundai Motor and Mubadala will pool their resources, with joint investments and knowledge-sharing in areas such as green steel production, green aluminium production and recycling, advanced air mobility (AAM), and electric vehicle infrastructure.
Furthermore, the partnership will explore new investment opportunities. Jaehoon Chang emphasized the synergy between Hyundai Motor’s eco-friendly and futuristic strategies, including hydrogen, green steel, green aluminium, and advanced mobility technologies, and Mubadala’s diverse investment portfolio. He affirmed Hyundai Motor’s commitment to sustainable future endeavors and contributing to the global energy transition.
Waleed Al Mokarrab Al Muhairi expressed enthusiasm for this strategic partnership, highlighting its alignment with Mubadala’s strategic growth and sustainability goals. He looks forward to uncovering new investment opportunities in mobility, green technology, and energy sectors, and expanding Mubadala’s presence in South Korea.
Established in 1967, Hyundai Motor Company operates in over 200 countries with a workforce exceeding 120,000 employees. The company, adhering to its vision ‘Progress for Humanity,’ is transitioning into a Smart Mobility Solution Provider. Investing in advanced technologies like robotics and AAM, Hyundai aims to introduce revolutionary mobility solutions and future mobility services. The company is steadfast in its mission for a sustainable future, focusing on zero-emission vehicles with leading hydrogen fuel cell and EV technologies.
Mubadala Investment Company manages a diverse global portfolio aimed at generating sustainable returns for the Government of Abu Dhabi. With a portfolio worth US$276 billion (AED 1015 billion), Mubadala has a presence across six continents, investing in various sectors and asset classes. The company is committed to driving sustainable growth and profit, supporting the diversification and global integration of the UAE’s economy.