Hyundai Motor and Toray Jointly Develop Carbon Fiber

Hyundai Motor Group signed a strategic cooperation agreement with chemical company Toray Group on the 18th.

Founded in 1926, Toray Group develops and supplies high value-added products worldwide in various advanced material fields such as carbon fiber composites, electronic information materials, medical and healthcare, water treatment and environment, and resin chemicals. Its core business, carbon fiber, ranks first in the world and is widely used in manufacturing vehicles and aircraft due to its light weight and high strength.

The signing ceremony held at Hyundai Motor Group headquarters in Yangjae-dong, Seoul, was attended by Hyundai Motor President Jang Jae-hoon, Kia President Song Ho-sung, Hyundai Motor Group AVP Division Head Song Chang-hyun, and Hyundai Motor Vice Chairman Kim Heung-soo. From Toray Group, Chairman Nikaku Akihiro, President Ooya Mitsuo, and Chairman of Toray Korea Lee Young-kwan were present.

Tetsuya Tsunekawa, Executive Director of Toray Group, Mitsuo Ooya, President of Toray Group, Akihiro Nikkaku, Chairman of Toray Group, Jaehoon Jang, President of Hyundai Motor Company, Hoseong Song, President of Kia, Changhyun Song, President of Hyundai Motor Group AVP Division, and Heungsu Kim, Vice President of Hyundai Motor Group GSO, are posing for a commemorative photo after signing the contract on the 18th.
[Photo by Hyundai Motor Group]

Through this cooperation, Hyundai Motor Group plans to jointly develop lightweight materials such as carbon fiber reinforced plastic (CFRP) to enhance the performance and ensure the safety of future mobility products. The group aims to widely apply new materials to new products to boost product competitiveness and ultimately lead industrial innovation.

Division Head Song Chang-hyun said, "We will actively utilize this strategic partnership to strengthen our position as a global leader in the mobility solutions sector," adding, "By combining Hyundai Motor Group’s vehicle technology expertise with Toray Group’s material technology, we will secure competitiveness as a first mover in the global market."

President Ooya Mitsuo said, "In the rapidly changing automotive industry, we have developed advanced technologies and materials focused on electrification and eco-friendliness in line with customer needs," and added, "We hope to achieve material and technological innovation together with Hyundai Motor Group."