'PM²' Emphasized at Mid- to Long-Term Strategy Meeting
Responding to Uncertainty with Agility and Meticulousness
Announcing Expansion of Autonomous Driving Partnerships
As Hyundai Motor Group has concretized its 2030 vision, it unveiled the 'PM²' project, inspired by the Korean concepts of 'Ppalli-Ppalli' (quickly, quickly) and 'Mirri-Mirri' (in advance). The aim is to combine both speed and planning, enabling proactive responses in a rapidly changing environment.
Jose Munoz, President of Hyundai Motor Company, is delivering a greeting at the 57th General Shareholders' Meeting held on March 20 at EL Tower in Seocho-gu, Seoul. Photo by Yonhap News
According to the automotive industry on July 28, Hyundai Motor President Jose Munoz sent an email to all employees on the afternoon of July 25, stating, "In a recent mid- to long-term strategy meeting, we have made our vision for 2030 more concrete and named the process toward this goal PM²." He explained, "The intention is to embody both Ppalli-Ppalli and Mirri-Mirri, meaning speed and planning, agility and meticulousness at the same time."
PM² is a method designed to accurately forecast demand and operate production efficiently, even amid rapidly changing internal and external environments. Ultimately, it enables proactive responses even in uncertain situations. Munoz wrote, "This systematic approach and your dedication will serve as the foundation for continued success."
He also emphasized future mobility strategies such as autonomous driving. In October last year, Hyundai Motor entered into a strategic partnership with Waymo, a subsidiary of Alphabet (Google's parent company) and a leader in autonomous driving technology, to apply Waymo's sixth-generation autonomous driving technology, 'Waymo Driver', to the Ioniq 5 electric vehicle. Production of the Ioniq 5 is now in full swing at Hyundai Motor Group Metaplant America (HMGMA). Munoz said, "By expanding strategic partnerships with companies like Waymo, we are broadening the possibilities of future mobility."
In his email, Munoz also encouraged employees, saying, "The challenges we face in the remaining half of the year will not be easy," but added, "When we are committed to the highest quality, prioritize safety above all else, and foster a culture of mutual respect, we can overcome any difficulty."
Hyundai Motor's sales revenue in the second quarter of this year reached KRW 48.2867 trillion, the highest ever for a single quarter. However, operating profit fell by 15.8% year-on-year to KRW 3.6016 trillion due to the impact of U.S. tariffs. Losses resulting from U.S. import automobile tariffs were calculated at KRW 820 billion. At this rate, it is expected that Hyundai Motor will face tariff losses exceeding KRW 1 trillion in the third quarter of this year.
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