WEBWIRE – Friday, May 26, 2023
- The new battery cell JV will be located in Bryan County, Savannah, Georgia where Hyundai Motor Group Metaplant America is currently being built
- Total investment amount of over USD 4.3 billion; HMG and LGES to take a 50 percent stake respectively
- JVs battery production aimed to start at the end of 2025 with an annual production capacity of 30 GWh, capable of supporting the production of 300,000 EVs
- Building the second battery manufacturing JV, the Group and LGES aim to continue strengthening the ties with their long-time partnership in electrification effort
Hyundai Motor Group and LG Energy Solution (LGES) announced an EV battery cell manufacturing joint venture in the U.S. today.
Hyundai Motor Group and LGES signed a memorandum of understanding to produce EV batteries in the U.S. and further accelerate the Groups electrification efforts in North America. The signing ceremony took place in LGESs headquarters in Seoul on May 26 with the attendance of Jaehoon Chang, President and CEO of Hyundai Motor Company and Youngsoo Kwon, CEO of LG Energy Solution.
The Group and LGES will each hold a 50 percent stake in the JV, which will involve an investment of over USD 4.3 billion (KRW 5.7 trillion).
Hyundai Motor Group is focusing on its electrification efforts to secure a leadership position in the global auto industry. We will create a strong foundation to lead the global EV transition through establishing a new EV battery cell plant with LG Energy Solution, a leading global battery producer and long-time partner, said Jaehoon Chang, President and CEO of Hyundai Motor Company.
Two strong leaders in the auto and battery industries have joined hands, and together we are ready to drive the EV transition in America, said Youngsoo Kwon, CEO of LG Energy Solution. By further advancing our product competitiveness and global operational expertise, LG Energy Solution will commit our best efforts to offering the ultimate sustainable energy solutions to our customers.
The annual production capacity of the new joint venture is at 30 GWh, able to support the production of 300,000 units of EVs annually. The facility will be in Bryan County, Savannah, Georgia, adjacent to Hyundai Motor Group Metaplant America, currently under construction.
Starting construction in the second half of 2023, the joint venture plans to start battery production at the end of 2025 at the earliest.
Hyundai Mobis will assemble battery packs using cells from the plant, then supply them to the Groups U.S. manufacturing facilities for production of Hyundai, Kia and Genesis EV models. The new facility will help create a stable supply of batteries in the region and allow the Group to respond fast to the soaring EV demand in the U.S. market.
With this JV, LGES now has seven battery plants currently operating or being constructed in the U.S., where the company is concentrating most of its resources to expand the production capacity. By ramping up its local production, LGES aims to provide innovative products both in scale and with speed, thereby expediting the clean energy transition in the U.S.
The Group and LGES have long been partners in the field of electrification having worked on the supplies of EV batteries for vehicles, including Elantra Hybrid, Kona Electric, and IONIQ 6 dedicated EV. The Hyundai Elantra Hybrid, LPi hybrid vehicle introduced in 2009, was the Groups first electrified model. In 2021, both started construction of the Indonesia battery cell JV which is set to start production in the first half of 2024.
The Group and LGES aim to further strengthen the ties going forward with the EV battery cooperation.
About LG Energy Solution
LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. Its robust global network, which spans North America,Europe,Asia, andAustralia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solutions ideas and innovations, visit https://news.lgensol.com.
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Groups mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all. More information about Hyundai Motor Group, please see: www.hyundaimotorgroup.com
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May 6, 2023 | Business
In a year when Hyundai Motor Company picked up 19[i] iF Design Awards for innovative cars and concepts, its six items of the companys marketing projects hoisted for its creative work in digital and physical spaces, demonstrating the breadth and depth of the companys forward-thinking work.
Hyundai Motor earned several of the prestigious iF Design Awards in the Communication and User Experience (UX) categories for its work promoting the companys acclaimed IONIQ 6 all-electric vehicle, which itself earned a Gold award in the Product category.
These awards are proud badges of honor for Hyundai that represents not only our product excellence but also our unique brand values and efforts dedicated to providing a leading-edge mobility experience to our customers, said Sungwon Jee, Senior Vice President and Global Chief Marketing Officer of Hyundai Motor Company. Hyundai will further strengthen its marketing activities to provide experiences aligning with our brand vision of Progress for Humanity to sincerely communicate with our customers.
iF Design Awards international jury recognized theworld premiere video of IONIQ 6 in the Communication category. The engaging narrative video is based on the concept of Awaken Your World, telling a story about IONIQ 6s flexible interior and personalized customer experience as a space optimized for a variety of lifestyles.
The video focuses on the IONIQ 6 as a dedicated eco-friendly electric vehicle that offers customers a new mobility experience by advancing the electrification experience. This is in line with Hyundais brand vision of Progress for Humanity, which aims to contribute to a better everyday life for customers.
The jury also lauded the IONIQ 6 design unveil video for digital billboards for its impactful and immersive expression of the EVs Electrified Streamliner design concept in the Communication category. The eye-catching outdoor advertising appeared at global landmarks, including K-POP Square in Seoul, Times Square in New York City and Piccadilly Circus in London.
The judges also honored the online IONIQ 6 Digital Studio in both the Communication and UX categories. Created during the pandemic, IONIQ 6 Digital Studio is designed to provide innovative, immersive digital experiences to customers that effectively communicate about the car through digital channelswith six themes that relate to their lifestyles.
The launch campaign was deemed a success, with people around the world experiencing IONIQ 6 across a range of digital touchpoints, including augmented reality (AR), virtual reality (VR), wearable tech and mobile devices. In an innovative virtual space developed to resemble IONIQ 6, Hyundai brought to life the idea that IONIQ 6 is more than just a way to get around its a place to work, play and relax, and that our customers can do whatever they want with it.
Hyundais IONIQ 5 robotaxi global campaign video also won in the Communication category. The video captures the humanization philosophy behind Hyundais autonomous driving technology development and the vision for the customer experience in Level 4 autonomous vehicles.
The two campaign videos go beyond simply presenting new technologies by using heartwarming stories to familiarize customers with a smart mobility that they will experience soon. The first episode emphasizes the robotaxis actions resembling those of a careful, considerate driver and the second episode focuses on the robotaxis caring of all sorts of passengers from teenagers to the elderly.
In the Interior Architecture category, the iF Design Award jury acclaimed Hyundais 2022 CES exhibition booth where the companys award-winning robotics-based mobility devices were first displayed. The booth introduced the Hyundais far-reaching concept of metamobility through an immersive experience showcasing how the real and virtual world can merge into one metaverse.
The CES exhibition booth took the form of a building made up of 20 modules, with a futuristic design concept about things moving freely and organizing themselves in optimal spaces based on their purposes, while also connecting to a mobility ecosystem concept.
This is the ninth year in a row that iF Design Award has celebrated Hyundai Motor Company in various disciplines.
iF Design Award is one of the three major international design awards, along with the Red Dot Award from Germany and International Design Excellence Award (IDEA) from the U.S. It celebrates winners in nine disciplines, including Product, Communication, Packaging, Service Design, Architecture, Interior Architecture, User Experience (UX), User Interface (UI) and Professional Concepts, in 80 categories. All award-winners are shown on www.ifdesign.com and published in the iF Design App.
iF International Forum Design GmbH, one of the worlds leading independent design institutions, founded the competition in Hanover in 1954. iF Design Award Night 2023, the Awards ceremony, is scheduled to take place on May 15, at the Friedrichstadt-Palast, Berlin.
About Hyundai Motor Company
Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision Progress for Humanity, Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.
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May 2, 2023 | Business
Hyundai Motor Company, its Marketing unit and Hyundai Motor Group won a combined 19 prizes, including a Gold honor, at the prestigious International Forum (iF) Design Award 2023 in the Product, Professional Concept, Interior Architecture, Communication, User Experience (UX) and User Interface (UI) categories.
Hyundai Motors acclaimed IONIQ 6 battery electric vehicle (BEV) topped the list with a Gold award in the Product category. Its aerodynamic designreflects the brands customer-centric commitment to energy efficiency and environmental responsibility. The electrified streamliner has won several other awards since its launch, including the prestigious World Car of the Year, World Electric Vehicle and World Car Design of the Year at the New York International Auto Show.
In a statement, the iF Design Award jury praised IONIQ 6 for a fresh and unique exterior aesthetic with subtle motifs that are carried over into a serene and relaxing interior. Its overall design identity is based on deep commitments to comfort, style, efficiency and environmental responsibility.
Also in the Product category, the jury honored Hyundai Grandeur(badged as Azera in markets outside Korea). The seventh-generation flagship sedan is noted for building on the brands design heritage while setting a course for the future of mobility with innovative styling cues and high-tech details, such as its Seamless Horizon Lamp and premium interior with sustainable material applications. Notably, Grandeur also collected a Red Dot Award this week.
The jury also recognized Hyundai Motors IONIQ lifestyle character items in the Product category for connecting the brand to the customers daily life. The company took IONIQs Parametric Pixel design language beyond vehicle applications and applied them to character products, showing the possibility of user interaction inside and outside the vehicle.
In the Professional Concept category, Hyundai Motors N Vision 74 rolling lab project earned an iF Design Award for its retro-futuristic design and innovative hydrogen-hybrid high-performance concept. Following its sensational digital debut last July, the 2022 TopGear.com Awards named the car an Instant Icon.
Hyundai Motors indoor/outdoor delivery service robot also made the winners list in the Professional Concept category. The service robot is equipped with Hyundai Motors innovative Plug & Drive (PnD) module that combines an in-wheel motor, steering, suspension, brake system and environmental sensors into one. The robot is already demonstrating its capabilities in pilot programs in Korea.
Also in the Professional Concept category, the jury recognized Hyundai Motors autonomous driving Roun robo-mobility solution that is designed to provide a better mobility experience for a variety of passengers, especially those with special needs.
Several other Hyundai Motor robotics-based mobility solutions, including MobED, PnD L7 and PnD Mobility, were honored in the Professional Concept category. All of these devices reflect the companys mission to expand human reach and to radically challenge prevalent ideas about mobility.
In the UI category, the jury tapped Hyundai Motors new connected car Navigation Cockpit (ccNC) Seon infotainment system, which was first applied to the all-new Grandeur. The design of the next-generation system features a horizon line and simple, flat graphic components that harmonize with the vehicles overall user interface, creating a graphic design that is distinctive to Hyundai.
In the Interior Architecture category, the jury lauded Hyundai Marketings 2022 CES Exhibition Booth where the companys robotics-based mobility devices were first displayed. The booth introduced its idea of meta-mobility, through an immersive experience showcasing how the real and virtual world can merge into one metaverse.
In the Communication category, Hyundais Marketing arm took home trophies for creative efforts related to the launch of IONIQ 6, including the 3D design unveil film that appeared on digital billboards anda narrative film for the world premiere. It also won for the IONIQ 5 Robotaxi video that is part of a global campaign to familiarize customers with Hyundais autonomous driving technology.
In the Communication and UX categories, iF Design Award honored Hyundai Marketings extended reality (XR) content for the online IONIQ 6 Digital Studio, wherein the brand realized a immersive user experience, promoting an EV that can be personalized to suit each customers taste.
Last but not least, the jury also lauded Hyundai Motor Groups corporate website (hyundai.co.kr) in the Communication, UX and UI categories for its innovative design that breaks away from traditional corporate design to allow users to seek out content in a social media-like experience.
This is the ninth year in a row that iF Design Award has celebrated Hyundai Motor Company and Hyundai Motor Group in various disciplines.
We are honored to be recognized as a lifestyle mobility brand that forges strong emotional connections between people and vehicles by bringing more value to our customers everyday life, said SangYup Lee, Executive Vice President and Head of Hyundai Global Design Center. Our global design team has worked hand-in-hand with our engineers to inject passion and knowledge into every product, concept, venue and interface with the aim of sharing our brands values.
iF Design Award is one of the three major international design awards, along with the Red Dot Award from Germany and International Design Excellence Award (IDEA) from the U.S. It celebrates winners in nine disciplines, including Product, Communication, Packaging, Service Design, Architecture, Interior Architecture, User Experience (UX), User Interface (UI) and Professional Concepts, in 80 categories. All award-winners are shown on www.ifdesign.com and published in the iF Design App.
iF International Forum Design GmbH, one of the worlds leading independent design institutions, founded the competition in Hanover in 1954. iF Design Award Night 2023, the Awards ceremony, is scheduled to take place on May 15, at the Friedrichstadt-Palast, Berlin.
About Hyundai Motor Company
Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision Progress for Humanity, Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.
More information about Hyundai Motor and its products can be found at:http://worldwide.hyundai.com or http://globalpr.hyundai.com
Feb 14, 2023 | Business
Takeo Fujisawa, co-founder of the Honda Motor Co., Ltd., will be inducted into the Automotive Hall of Fame at its awards ceremony at The Fillmore Detroit on July 20. Fujisawa will join Honda founder Soichiro Honda, who was inducted in 1989 as the first Japanese automotive executive honored by the Automotive Hall of Fame, located in Dearborn, Michigan.
Born on November 10, 1910, Fujisawa originally aspired to become a teacher, but instead worked as a salesman for a steel products company and then for a lumber company when he met Soichiro Honda in August 1949, about one year after the founding of Honda Motor Co., a small local venture in Hamamatsu, Japan. It was the right after the launch of the Dream D-Type, considered to be Honda’s first full-fledged motorcycle product. While the two men were equipped with different personalities and skill sets, Honda and Fujisawa hit it off almost immediately and began deep discussions about their approach to business and dreams for the future.
Quickly developing a trusting relationship, they established a shared vision for the future of the company with Fujisawa joining Honda Motor in October 1949. As a president of the company, Honda retained responsibility for product design and technology development and manufacturing operations, inventing many innovative vehicles including Super Cub, the world’s best-selling mobility product. Fujisawa backed him up as his right hand with responsibility for the business side of the company, including sales, finance and marketing.
Fujisawa’s marketing savvy, strong business sense, and keen ability to chart unique paths to growth proved the perfect match to Soichiro Honda’s engineering acumen and vision for mobility. The partnership lasted 25 years, until March 1973 when Messrs. Honda and Fujisawa retired together. From the beginning, Fujisawa had an enormous impact on Honda’s business globally and in the U.S., where he played the key role in the approach to the American market.
Fujisawa made several lasting and impactful business decisions that are still relevant today:
Starting Honda Business in the U.S.
In 1959, and by then the senior managing director of Honda, Fujisawa made the challenging decision to establish American Honda as Honda’s first subsidiary outside Japan. At the time, the entire U.S. motorcycle industry sold no more than 60,000 units annually — mostly larger bikes. One member of the team recommended expansion in Asia, where small motorcycles from Europe, like those made by Honda, were already in use. He suggested that America, the “land of the automobile,” was too difficult a target for Honda. Fujisawa had another idea. “On second thought, let’s do America,” he said. “To succeed in the U.S. is to succeed worldwide. To take up the challenge of the American market may be the most difficult thing to do, but it’s a critical step in expanding the export of our products.” Without Fujisawa’s leadership, Honda would not be the success story in the United States that it is today.
Creating Independent U.S. Dealer Network
Fujisawa adopted many innovative sales and marketing strategies in Japan and the U.S. This included the decision to start motorcycle sales by establishing Honda’s own dealer network. Despite suggestions that Honda should follow the approach of other Japanese companies and rely on a trading company to launch U.S. sales, Honda forged relationships with many smaller dealers, even those with no history in the motorcycle industry, and successfully expanded business from the West Coast across America. By the mid-1960s, Honda was the best-selling motorcycle brand in America.
Establishing Separate R&D Company
In 1960, based on Fujisawa’s initiative, Honda R&D Co., Ltd. was created as a separate company. Fujisawa conceived the idea with two objectives: to give Honda engineers the freedom to create new value without being constrained by the ups and downs of daily business and to protect Honda’s ability to sustain this innovation in the future when they could no longer rely on the genius of Soichiro Honda. The new R&D company ushered in an era of incredible technological and product innovation, and entering new business areas including the automobile and aviation industries. Honda R&D’s focus on research and creating new value in mobility continues to this day.
More information about Takeo Fujisawa will be provided at the time of his formal induction into the Automotive Hall of Fame in July 2023.
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