Hyundai Motor Group Expands Opportunities in Brazil, Focusing on Progress-Driven Mobility, Eco-Friendly Innovation

News provided by

Feb 23, 2024, 06:51 ET

Hyundai Motor Group Executive Chair Euisun Chung today met President Luiz Inácio Lula da Silva to discuss comprehensive cooperation plans in Brazil
Executive Chair Chung introduced various initiatives at Hyundai Motor's Brazilian plant for employees and the surrounding communities
President Lula says "A stable country with a future receives more investment. Hyundai Motor Group plans to invest more than 1.1 billion dollars by 2032 in technology and green hydrogen. Another great company growing in our country."
The Group aims to not only focus on car sales but also grow together with Brazil by prioritizing workers' happiness and social contributions to local communities
… The Group hopes to contribute to the hydrogen and mobility sectors in Brazil and explore cooperation plans in future aviation mobility and small modular reactors
… The Group to promote the development of locally tailored eco-friendly vehicles and establish a new organization for hydrogen projects in Central and South America
Executive Chair Chung also met with the president of the University of São Paulo to discuss talent development and industry-academia cooperation in the field of eco-friendly technologies to lead Brazil's clean energy market
Executive Chair Chung to meet with the Governor of São Paulo and visit Hyundai Motor's Brazilian plant to check the current status of the strategy for Central and South America

SAO PAULO, Feb. 23, 2024 /PRNewswire/ -- Euisun Chung, Executive Chair of Hyundai Motor Group (the Group), is currently visiting Brazil, and has met with the country's President Luiz Inácio Lula da Silva.

President Lula; Geraldo José Rodrigues Alckmin Filho, Vice President and Minister of Industry and Foreign Trade of Brazil; and Jose Muñoz, President and Global Chief Operating Officer at Hyundai Motor Company, were also present at the meeting at President Lula's office on February 22.

(From Right) Euisun Chung Executive Chair of Hyundai Motor Group; Brazil President Luiz Inácio Lula da Silva; Brazil Vice President Geraldo José Rodrigues Alckmin Filho, Photo provided by Brazil Government

Executive Chair Chung first thanked the Brazilian government for its continued interest and support in Hyundai Motor's Brazilian plant and introduced various initiatives at the plant for the benefit of employees and the surrounding communities.

"Hyundai Motor Group wants not only to sell cars but also to grow together with Brazil," said Executive Chair Chung. "We are carrying out various social contribution activities for the Brazilian community, including free dental treatment and reforestation programs."

Executive Chair Chung added, "Hyundai pledges continued investments in various areas to further contribute to the Brazil's economy in collaboration with partners."

President Lula said, "A stable country with a future receives more investment. I received the Executive Chair of Hyundai Motor Group, Euisun Chung, who announced that the Group plans to invest more than 1.1 billion dollars by 2032 in technology and green hydrogen. Another great company growing in our country."

With an employee-first philosophy in place, Hyundai Motor's Brazilian plant has received the Good Job Companies Certification awarded by the Secretariat of Employment and Labor Relations (SERT) in São Paulo.

Regarding the Brazilian government's de-carbonization policy, Executive Chair Chung said, "We are well aware of the Brazilian Government's effort to R&D and applying eco-friendly energy sources to the industries," expressing deep sympathy for the Brazilian government's various eco-friendly policies and added, "Hyundai Motor Group will actively contribute to the hydrogen infrastructure and mobility sector in Brazil."

Executive Chair Chung said, "Hyundai Motor Group is pushing for a rapid electrification strategy that encompasses electric and hydrogen vehicles to achieve zero carbon emissions, and hydrogen energy is a key means of responding to climate change and an important resource to complement electrification."

Executive Chair Chung also explained Advanced Air Mobility (AAM), in which the Group is seeking to expand its market and secure technological competitiveness as part of securing future mobility leadership, and Small Modular Reactor (SMR), which the Group is accelerating the development of as a stable power source.

SOURCE Hyundai Motor Group