Hyundai Motor Group has announced a strategic partnership with Japanese material manufacturer Toray Industries to develop innovative materials aimed at enhancing the performance of electric vehicles (EVs). This collaboration will focus on creating lightweight, high-strength materials to improve the performance and safety of Hyundai’s future EV designs and mobility products.
The partnership will specifically target the development of carbon fiber-reinforced polymer parts to enhance the performance of EV batteries and motors. By leveraging Toray’s expertise in materials technology and Hyundai’s automotive prowess, the companies aim to strengthen Hyundai’s position as a global leader in mobility solutions.
“Hyundai Motor Group aims to leverage this strategic partnership to strengthen its position as a global leader in mobility solutions. By combining our automotive expertise with Toray Group’s material technological prowess, we aim to become the first mover and gain a competitive edge in the global market,” said Song Chang-hyeon, Head of Hyundai Motor Group’s advanced platform division.
Hyundai has been making significant strides in the U.S. EV market, with strong sales growth reported in 2023. The automaker sold the second-most EVs in the U.S. last year and reported a 62% year-over-year increase in EV sales for the first quarter of this year. Hyundai Motor of America also reported a 100% growth in EV sales, highlighting the company’s commitment to electric mobility.
