Hyundai Motor Group vows ‘consistency and sustainability’ this year

MANILA: Hyundai Motor Group aims for “consistency and sustainability” this 2024, as stated by Executive Chairman Euisun Chung in his New Year address.

The group’s head honcho emphasized that their performance this year will rely on “consistent change” and “sustainable growth” amid the global uncertainties and growing competition.

Chung stressed the significance of consistent change for their customers, describing it as the “key to innovation.”

“The act of stepping out of your comfort zone may seem unsettling at first, but it is proof that you are actually moving in the right direction,” he said.

Chung also emphasized the need for innovative thinking and challenging mindset to achieve the group’s commitment to consistent change, saying, “We need to foster a corporate culture that actively encourages innovation. We must not fear failure but be weary of not trying. The best strategy is earning the full trust of our customers, not quickly following our competitors.”

He also noted that consistent change will help the group achieve sustainable growth.

“Humanity has always been concerned with sustainability for its own survival, but we must redouble our efforts now. We must take greater interest in carbon neutrality and the circular economy for the sustainable progress of humanity,” Chung stated.

Hyundai Motor Group is the first ever organization to commercialize hydrogen fuel cell EVs and use hydrogen energy effectively. It is also creating a hydrogen business ecosystem that spans the entire lifecycle, from hydrogen production to transportation, storage, and consumption, by integrating the hydrogen business capabilities of every Hyundai affiliate.

Both Hyundai and Kia are making a concerted effort to reduce carbon emissions in their production processes. This calls for a significant increase in the use of renewable energy, such as solar power generation systems, at both domestic and overseas plants, to achieve carbon neutrality by 2045.

The two brands also inked a long-term power purchase agreement with Hyundai Engineering and Construction to procure solar renewable energy.

“I am excited about the series of innovations in electrification that will start at Autoland Gwangmyeong, the group’s first electric vehicle (EV)-dedicated plant, and expand to Ulsan, the United States, and beyond,” Chung said.

Hyundai Motor Group is expected to complete the renovation of the Kia Autoland Gwangmyeong Plant in South Korea in the second quarter of the year. The facility will manufacture the Kia EV3 compact EV.

2024 also marks the 80th anniversary of Kia and the 50th anniversary of the launch of its first passenger car, the Brisa.

Photos from Hyundai Motor Group

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