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Chairman Euisun Chung describes what all are Hyundai Motor goals for 2024

Seoul, January 2, 2024 – Hyundai Motor Group, a global automotive leader, commenced the new year with an inspiring event at Kia AutoLand Gwangmyeong, Korea’s pioneering dedicated electric vehicle (EV) factory. The Group’s executive chair, Euisun Chung, along with other key executives, shared their insights and ambitious plans for the future, emphasizing the themes of robotics, Advanced Air Mobility (AAM), and electrification.

Euisun Chung, in his New Year’s address, emphasized the Group’s dual focus on ‘Consistency and Sustainability’. He underlined the necessity of constant innovation and adaptation in the face of global challenges and increasing competition. Chung expressed his excitement about the forthcoming innovations in electrification, starting from AutoLand Gwangmyeong and extending globally.

The Group plans to unveil the Kia AutoLand Gwangmyeong EV Plant in the second quarter of 2024, producing the new EV3 model. This marks the beginning of an extensive rollout of innovative EVs across various global locations, aiming to position the Group among the top three global EV manufacturers by 2030.

Chung proudly referenced his recent recognition as an Honorary Commander of the Most Excellent Order of the British Empire (CBE), attributing this honor to the collective effort and professionalism of the Group’s employees. He emphasized the importance of maintaining a ‘challenging spirit’ and resilience in the face of adversity, citing the Group’s ability to overcome multiple crises.

A key aspect of Chung’s message was the need for consistent change to achieve flawless customer satisfaction. He urged the Group to foster a culture of innovation and creativity, focusing on customer trust rather than merely competing with rivals. Chung stressed that the Group’s strategy should revolve around unique and high-quality products and services.

Addressing sustainability, Chung highlighted the Group’s commitment to environmental responsibility, customer satisfaction, and security. He discussed the Group’s role in advancing carbon neutrality, developing a hydrogen ecosystem, and leading in the circular economy for EV batteries. Hyundai Motor Group, known for its pioneering work in hydrogen fuel cell EVs, continues to expand its renewable energy and carbon-neutral initiatives.

As part of the Group’s sustainability efforts, Hyundai Motor and Kia are actively reducing carbon emissions in manufacturing processes, using renewable energy sources and signing power purchase agreements for solar energy.

Chung also emphasized the importance of quality, stating that it is central to earning customer trust and differentiating the Group’s offerings. Security, particularly in protecting intellectual assets, was highlighted as a critical component for the Group’s sustainable growth.

Concluding his address, Chung called for a culture of preparedness, emphasizing the need for swift and agile decision-making in the face of economic uncertainties. He expressed confidence in the Group’s employees, urging them to continue contributing to Hyundai Motor Group’s growth with pride and confidence.

The ceremony at Kia AutoLand Gwangmyeong, a symbol of constant change and innovation, marked both the 80th anniversary of Kia’s founding and the 50th anniversary of the launch of Kia’s first passenger car, the Brisa. Following Chung’s address, Kia President Ho Sung Song and other executives outlined their plans for the EV plant, AAM, and robotics, setting a visionary tone for Hyundai Motor Group’s journey in 2024.

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