November 21, 2024

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Hyundai Motor Group Executive Chair Chung Euisun (center) tours the production line at the company's Nosovice plant in the Czech Republic on Thursday alongside Martin Klicnik (left), head of the production division, and Lee Chang-ki (right), president of Hyundai Motor Manufacturing Czech. (Hyundai Motor Group)

Hyundai Motor Group's Executive Chairman Chung Euisun visited the company’s Czech manufacturing plant last Thursday to assess Hyundai’s European operations as part of a state trip with South Korean President Yoon Seok Yeol.

During the trip, Hyundai Motor Group also signed several memorandums of understanding with Czech companies and universities to collaborate on future mobility initiatives, including hydrogen energy and advanced automotive technologies. This was part of a larger South Korean economic delegation led by President Yoon to promote cooperation in high-tech sectors such as nuclear power.

"I’m grateful for the hard work and dedication of our Czech team," Chung told the employees at the Czech plant. "This plant is at the heart of our green mobility vision and will continue to drive our success, even in a challenging market. Now is the time to double down on innovation and sustainability to stay ahead,"

Europe, the world’s second-largest electric vehicle market, has recently seen slowing demand. According to the European Automobile Manufacturers Association, total vehicle sales grew just 3.9 percent from January to July 2023, compared to 12.7 percent in the previous year. EV sales rose by only 0.6 percent.

Hyundai is filling the gap left by slowing EV demand with strong hybrid models. The Tucson Hybrid, produced at its Nosovice plant, has proven popular in Europe. On the EV side, Hyundai is expanding its lineup with the second-generation Kona Electric, made in the Czech Republic, the flagship Ioniq 5, exported from South Korea, and the upcoming Ioniq 6, which is set to launch in Europe later this year.

Kia, Hyundai's sister company, is also rolling out new models.

These include a more affordable trim of the EV6, the EV9 SUV and the EV3, making its European debut later this year. Kia plans to start EV production at its Autoland Slovakia plant by the second half of 2025.

Another outcome of Chung’s Czech trip was the signing of a partnership with Skoda Electric, a Czech company specializing in eco-friendly transportation, on Friday. Under the agreement, Hyundai and Skoda will collaborate on hydrogen fuel cell technology and work together to develop a hydrogen mobility ecosystem in Europe.

Hydrogen-powered vehicles, which produce zero emissions, are seen as a key part of Europe’s green mobility future. Hyundai’s expertise in hydrogen fuel cells, combined with Skoda’s presence in the local market, will help accelerate the adoption of hydrogen vehicles across the region. The Czech Republic has already begun building a national hydrogen infrastructure.

Hyundai is also strengthening ties with academic institutions to drive innovation. On Friday, Hyundai signed an agreement with the Technical University of Ostrava, along with two South Korean research institutes -- the Korea Automotive Technology Institute and the Korea Evaluation Institute of Industrial Technology -- to collaborate on developing next-generation mobility technologies.

The partnership will focus on several key areas, including vehicle-to-everything communication, bidirectional charging, and artificial intelligence and cybersecurity.

By Moon Joon-hyun (mjh@heraldcorp.com)