Hyundai Motor Company and Mubadala Investment Company, a global sovereign investor based in Abu Dhabi, have entered into a memorandum of understanding (MOU) to collaboratively investigate potential business prospects and synergies in the realms of future mobility and technologies. The agreement was signed by Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala Investment Company, with the aim of jointly exploring opportunities in the fields of future mobility and technology.
In Abu Dhabi, a signing ceremony occurred with the presence of Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala Investment Company. This event signifies the commencement of a strategic partnership aimed at advancing developments in future mobility and clean technologies.
This agreement enables mutual investment and knowledge-sharing, harnessing the strengths of Mubadala's investments and Hyundai Motor's expertise across diverse domains. These include green steel production, green aluminum production and recycling, advanced air mobility (AAM), and electric vehicle infrastructure. Hyundai Motor and Mubadala will also actively explore potential investment prospects as part of their collaborative efforts.
"This collaboration capitalizes on the organic synergy between Hyundai Motor's eco-friendly and futuristic business strategies, including hydrogen, green steel, green aluminum as well as future mobility technologies, and Mubadala's investment portfolio", said Jaehoon Chang, President and CEO of Hyundai Motor Company. "Hyundai Motor will continue to pursue diverse partnerships to achieve a sustainable future and contribute to the global energy transition", he further added
Commenting on this agreement, Waleed Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company, said, "This strategic partnership with Hyundai Motor Company marks a significant milestone in our journey to further diversify our portfolio across sectors that are shaping the future of the global economy such as mobility, green technology, and energy. Through our combined strengths and expertise, we will surface new investment opportunities that are in line with our strategic growth ambitions and sustainability agendas. We look forward to collaborating with Hyundai Motor Company and expanding our presence in South Korea".