Tag: Hyundai

  • Hyundai IONIQ 5 wins Car and Driver’s year award

    Hyundai IONIQ 5 wins Car and Driver’s year award

    SEOUL: Hyundai IONIQ 5 is awarded Car and Driver’s EV (Electric Vehicle) of the Year Award on August 18, 2022.

    Hyundai IONIQ 5 is listed on Number 1 out of 20 top rated electric vehicle after a three week period rigorous test.

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     “The IONIQ 5 is an attractive proposition for buyers who desire the performance, range, and charging speeds of far more expensive EVs at an accessible price,” said Tony Quiroga, editor-in-chief, Car and Driver.

    The EV award uses the same criteria as Car and Driver’s 10Best Awards. The winner must exceed the expectations of the Car and Driver editorial and testing teams in four key areas:

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    · Value

    · Mission Fulfillment

    · Technology Advancement

    · Fun to Drive

    “IONIQ 5 successfully launched our new family of IONIQ electric vehicles and exclusive Electric-Global Modular Platform that allows for more interior space and greater performance,” said José Muñoz, president and CEO, Hyundai Motor North America. “IONIQ 5 continues to satisfy customers and we will build on this momentum with the launch of the IONIQ 6 and 7.

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    “Accolades like the Car and Driver EV of the Year are particularly rewarding to the teams that designed and engineered IONIQ 5 to deliver standout charging speed, innovative features and driving dynamics.” he added.

    Other contenders include Audi e-tron GT, BMW i4, BMW iX, Chevrolet Bolt EV, Chevrolet Bolt EUV, Cadillac Lyriq, Ford Mustang Mach-e GT, Ford F150 Lightning, GMC Hummer EV Pickup, Lucid Air Grand Touring, Mercedes EQS, Porsche Taycan Cross Turismo, Rivian R1T, Tesla Model S Plaid and Volvo C40 Recharge. Car and Driver employed instrumented testing, subjective evaluation and side-by-side comparison in both practicality and entertainment value.

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  • Hyundai Motor launches Dynamics Artificial Intelligence Institute

    Hyundai Motor launches Dynamics Artificial Intelligence Institute

    SEOUL/CAMBRIDGE: Hyundai Motor Group (the Group) on Friday August 12, 2022 announced the launch of Boston Dynamics AI Institute (the Institute), with the goal of making fundamental advances in artificial intelligence (AI), robotics and intelligent machines.

    The Group and Boston Dynamics will make an initial investment of more than $400 million in the new Institute, which will be led by Marc Raibert, founder of Boston Dynamics. 

    As a research-first organization, the Institute will work on solving the most important and difficult challenges facing the creation of advanced robots.

    Elite talent across AI, robotics, computing, machine learning and engineering will develop technology for robots and use it to advance their capabilities and usefulness.

    The Institute’s culture is designed to combine the best features of university research labs with those of corporate development labs while working in four core technical areas: cognitive AI, athletic AI, organic hardware design as well as ethics and policy.

    “Our mission is to create future generations of advanced robots and intelligent machines that are smarter, more agile, perceptive and safer than anything that exists today,” said Marc Raibert executive director of Boston Dynamics AI Institute.

    “The unique structure of the Institute — top talent focused on fundamental solutions with sustained funding and excellent technical support — will help us create robots that are easier to use, more productive, able to perform a wider variety of tasks, and that are safer working with people.”

    To achieve such advances, the Institute will invest resources across the technical areas of cognitive AI, athletic AI and organic hardware design, with each discipline contributing to progress in advanced machine capabilities. In addition to developing technology with its own staff, the Institute plans to partner with universities and corporate research labs.

    The Institute will be headquartered in the heart of the Kendall Square research community in Cambridge, Massachusetts. The Institute plans to hire AI and robotics researchers, software and hardware engineers, and technicians at all levels.                          

    In addition to the Institute, Hyundai Motor Group separately announced plans to establish a Global Software Center to lead development of its software capabilities and technologies and to enhance its capabilities to advance development of Software Defined Vehicles (SDVs).

    The Center will be established on the basis of 42dot, an autonomous driving software and mobility platform startup recently acquired by the Group.

  • Hyundai’s heavy duty trucks to be exported to Germany

    Hyundai’s heavy duty trucks to be exported to Germany

    SEOUL: Hyundai Motor Company announced on Tuesday to export XCIENT Fuel Cell heavy-duty trucks to Germany, the biggest commercial vehicle market in Europe.

    Seven companies of Germany in logistics, manufacturing and retail will put 27 XCIENT Fuel Cell trucks into fleet service with funding for eco-friendly commercial vehicles from Germany’s Federal Ministry for Digital and Transport (BMDV). 

    READ MORE: Hyundai Motors announced 4% growth in July global sales

    Mark Freymueller, Senior Vice President and Head of Commercial Vehicle Business Innovation of Hyundai Motor Company said:

    “We are glad to now also officially enter the German commercial vehicle market with our heavy-duty fuel cell electric truck, the XCIENT Fuel Cell. Hyundai Motor, which is recognized as the leader in hydrogen fuel cell technology, will leverage this opportunity to expand our business into the wider European market by successfully supporting Germany’s efforts to achieve its carbon neutral goals,”

    READ MORE: Hyundai, Kia sign pact to develop mobility to explore moon

    In August 2021, BMDV rolled out its funding guidelines for commercial vehicles with alternative drive systems upon approval by the European Commission. The funding is available for battery, fuel cell and (overhead line) hybrid electric vehicles, corresponding to refueling/charging infrastructure and related feasibility studies. BMDV will have a budget of 1.6 billion euros available until 2024 to purchase eco-friendly commercial vehicles. 

    The aforementioned seven German companies initially applied for the funding with Hyundai’s XCIENT Fuel Cells and successfully received approval from BMDV, again proving XCIENT Fuel Cell’s product competitiveness. 

    READ MORE: Hyundai announces second quarter financial results

    Hyundai Hydrogen Mobility, a joint venture between Hyundai Motor Company and Swiss company H2 Energy, has also established Hyundai Hydrogen Mobility Germany GmbH (HHMG) to actively expand its entry into the hydrogen-powered commercial vehicle market in Germany. In order to establish a hydrogen ecosystem in the country, HHMG will operate local market sales and customer service as well as upfitter management in the market. HHMG also plans to actively participate in the second funding program.

    XCIENT Fuel Cell Specifications

    The XCIENT Fuel Cell to be delivered is equipped with a 180-kW hydrogen fuel cell system with two 90-kW fuel cell stacks. The system’s durability and the vehicle’s overall fuel efficiency are tailored to the demands of commercial fleet customers. The 350-kW e-motor with maximum torque of 2,237 Nm enables dynamic driving performance.

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    XCIENT Fuel Cell’s seven large hydrogen tanks offer a combined storage capacity of around 31 kg of fuel, while a 72-kWh-powered set of three batteries provides an additional source of power. The maximum driving range is 400 km per charge. Refueling a full tank of hydrogen takes about 8 to 20 minutes, depending on the ambient temperature. 

    Launched in 2020 by Hyundai Motor, XCIENT Fuel Cell is the world’s first mass-produced hydrogen electric heavy-duty truck. The company has already deployed 47 units in Switzerland where they have accumulated more than four million kilometers in driving as of July 2022. The trucks are servicing 23 different customers in Switzerland.

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  • Hyundai Motors announced 4% growth in July global sales

    Hyundai Motors announced 4% growth in July global sales

    SEOUL: Hyundai Motor Company on Monday announced that its July 2022 global sales registered an increase of 4 per cent to 325,999 units.

    READ MORE: Hyundai, Kia sign pact to develop mobility to explore moon

    In markets outside of Korea, Hyundai Motor sold a total of 269,694 units, a 6.3 percent increase from a year earlier.

    Despite global component shortages and ongoing geopolitical issues, the sales in global markets have recovered steadily this year.

    READ MORE: Hyundai announces second quarter financial results

    Sales in Korea were down by 5.9 percent year-over-year to 56,305 units. However, the company maintained solid sales of SUV models and Genesis luxury brand vehicles, selling 15,371 units and 10,512 units, respectively.

    Amid fiercer competition in the global electric vehicle (EV) market, the company is solidifying its position as an EV leader. In July, Hyundai sold over 16,000 EVs on a retail sales basis, a 24 percent increase from a year earlier, with more than 8,000 units of IONIQ 5 leading the way.

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    In spite of unfavorable external conditions, including ongoing components shortages and cost fluctuations of raw materials, Hyundai will continue to alleviate business uncertainties by optimizing production and inventory status while diversifying business strategies tailored for each region.

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  • Hyundai, Kia sign pact to develop mobility to explore moon

    Hyundai, Kia sign pact to develop mobility to explore moon

    SEOUL, Korea: Hyundai Motor and Kia Corporation on Wednesday signed agreements with six Korean research institutes to develop mobility solutions to explore the surface of the moon.

    Hyundai Motor and Kia, who have pioneered endless possibilities for mobility expansion through innovative technologies such as robotics and Advanced Air Mobility (AAM), are now expanding their vision beyond the bounds of Earth and into space.

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    The announcement follows Korea’s successful launch of a domestically produced rocket in June.

    Yong Wha Kim, Executive Vice President, and Head of R&D Planning & Coordination Center of Hyundai Motor and Kia said “We have taken the first step towards transforming our vision for robotics and the concept of Metamobility into reality.”

    “We will expand the scope of human movement experience beyond traditional means of transport and beyond the bounds of Earth to further contribute to the progress of humankind and help create a better future.” He added.\

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    The signing ceremony held in Korea was attended by Chung Kook Park, President and Head of R&D Division of Hyundai Motor and Kia as well as top officials from the six research institutes: Korea Atomic Energy Research Institute (KAERI); Korea Aerospace Research Institute (KARI); Korea Astronomy and Space Science Institute (KASI); Korea Automotive Technology Institute (KATECH); Korea Institute of Civil Engineering and Building Technology (KICT); and Electronics and Telecommunications Research Institute (ETRI).

    With collaboration expected to start as early as August, the consultative body will define the concept of lunar exploration mobility and major core technologies while developing and reviewing specific strategies and implementation measures to operate on the moon. Hyundai Motor and Kia will support the consultative body with their smart mobility technologies.

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    Under the multilateral research agreement, the participants from the private and government sectors will integrate their knowledge and capabilities to significantly advance their existing technologies and engineer new solutions for moon exploration mobility. Expertise will be brought to bear across numerous areas, including exploration equipment, software for mobility operation and remote communication functionality.

    With no air, extreme temperatures and countless craters and coatings of lunar dust composedof sharp and abrasive particles, the moon’s surface is an exceptionally harsh environment. While it poses significant challenges to the development of surface exploration mobility, it also provides the ultimate proving ground and will deliver invaluable lessons for Hyundai and Kia to further accelerate the delivery of smart and sustainable mobility solutions on earth.

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    Hyundai and Kia have formed an internal consultative body with key personnel for the development and operation of lunar surface mobility. Resources will be brought to bear from Hyundai and Kia’s Robotics Lab in charge of robot development. Hyundai and Kia will also collaborate on software and hardware design and interpretation, space environment response technology, and special equipment for conducting lunar exploration missions.

    The multilateral agreement to develop mobility for exploring the moon’s surface represents a seminal moment in the history of Hyundai Motor and Kia that expands their vision for future mobility, including Robotics and AAM, to areas beyond the Earth. Hyundai and Kia also expect to secure proprietary technologies for future mobility businesses in the process of the new lunar exploration mobility robotics development. 

    In January, Hyundai Motor announced its robotics vision of ‘Metamobilty’ to help overcome the limitations of movement at CES 2022, which featured a video of Boston Dynamics’ robot, named ‘SPOT’, exploring outer space. 

    READ MORE: Hyundai announces second quarter financial results

  • Hyundai announces second quarter financial results

    Hyundai announces second quarter financial results

    SEOUL, South Korea: Hyundai Motor Company on Thursday announced its financial results for Q2 (second quarter) of 2022.

    The company’s revenue and operating profit from April to June rose 18.7 percent and 58 percent year-over-year to KRW 36 trillion and 2.98 trillion, respectively. 

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    During the three-month period, Hyundai Motor posted operating profit margin of 8.3 percent, and net profit, including non-controlling interest, increased 55.6 percent to KRW 3.08 trillion.

    Hyundai sold 976,350 units around the globe in the second quarter, a 5.3 percent decrease from the year earlier. Sales in markets outside of Korea were down by 4.4 percent to 794,052 units, and sales in Korea decreased 9.2 percent to 182,298 units. The decrease in sales volume mainly stemmed from the ongoing global chip and component shortage and geopolitical issues.

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    A robust sales mix of SUV and Genesis luxury models, reduced incentives from a lower level of inventory, and a favorable foreign exchange environment helped lift revenue in the second quarter, despite the slowdown in sales volume amid an adverse economic environment.

    Hyundai’s EV model sales surged 49 percent from a year earlier to 53,126 units in the second quarter, accounting for 5.4 percent of its total sales volume. 

    The company maintains its financial guidance that was set in January for 13~14 percent of consolidated revenue growth and 5.5~6.5 percent annual consolidated operating profit margin.

    Hyundai Motor’s board today approved a plan to pay an interim dividend of KRW 1,000 per common share.

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    Hyundai to optimize business operations with electrification leadership around the world

    Hyundai Motor expects a gradual recovery from the global chip and component shortage. However, the company also anticipates external uncertainties to continue, including the supply chain disruption caused by the resurgence of a COVID-19 variant and fluctuation in raw material costs due to geopolitical issues.

    In addition, the company expects currency rate volatility as well as increasing marketing costs due to fiercer competition among automakers as a burden for the rest of this year.

    In order to cope with the uncertainties, the company will focus on the recovery of sales through an optimized production-sales plan in global operations that will enhance its product mix with SUVs and luxury models to secure robust profitability.

    In addition, Hyundai will continue to strengthen its global leadership position in electric vehicles with its new IONIQ 6 battery electric vehicle, which will launch in the third quarter.

  • Rolls-Royce, Hyundai signs pact to lead advanced air mobility market

    Rolls-Royce, Hyundai signs pact to lead advanced air mobility market

    FARNBOROUGH: Rolls-Royce and Hyundai Motor Group on July 18, 2022 signed Memorandum of Understanding (MOU) to collaborate on bringing all-electric propulsion and hydrogen fuel cell technology to the Advanced Air Mobility (AAM) market.

    The partnership will leverage Rolls-Royce’s aviation and certification capabilities and Hyundai Motor Group’s hydrogen fuel cell technologies and industrialization capability. Both companies share a vision of leading the way in the AAM market delivering battery-electric and fuel cell electric solutions to the Urban Air Mobility (UAM) and Regional Air Mobility (RAM) markets and advancing sustainable aviation.

    The Memorandum of Understanding (MOU) between Rolls-Royce and Hyundai Motor Group includes five strategic aims:

    • Collaborating on the technology development and requirements of power and propulsion systems for Hyundai’s Advanced Air Mobility Division.

    • Collaborating on the industrialization of Rolls-Royce power and propulsion systems for the Advanced Air Mobility market.

    • Development of electric propulsion systems based upon hydrogen fuel cells as an energy source for Hyundai’s RAM platforms.

    • Collaborating to bring to market a joint fuel-cell electric propulsion system to the wider AAM market.

    • Delivering a joint fuel-cell electric aircraft demonstration by 2025.

    Supernal (the Company) revealed its initial eVTOL vehicle cabin concept at Farnborough International Airshow, providing the first look at how Hyundai Motor Group (the Group) is integrating automotive capabilities to develop the Advanced Air Mobility (AAM) market.

    Supernal partnered with the Group’s design studios to create the cabin concept as the Company works to certify its eVTOL vehicle for commercial use in the United States starting in 2028 – and in the E.U. and U.K. shortly after. Beyond the vehicle, Supernal is collaborating with external partners and the Group’s more than 50 affiliates – which span automobiles, automotive parts, construction, robotics and autonomous driving – to responsibly co-create the expansive AAM value chain.

    “In order for Advanced Air Mobility to become a wide-spread mode of transportation, every detail – from the passenger experience to regulations and infrastructure – needs to be addressed from the start and work in lockstep with one another,” said Jaiwon Shin, President of Hyundai Motor Group and CEO of Supernal.

    “Leveraging Hyundai Motor Group’s mobility capabilities, Supernal is investing time and resources upfront to ensure the industry can scale to the masses in the coming decades and reach its exciting potential.” He added.

    Harnessing Automotive Design

    Supernal’s five-seat cabin concept provides clues to how the Company is harnessing automotive design processes and materials – while meeting commercial aviation’s highest safety standards – to optimize the AAM passenger experience and price-point. The design embodies biomimicry philosophy – a butterfly in this case – and the Company’s pillars of safety above all, human-centered design and environmental responsibility.

    “Supernal is partnering with Hyundai Motor Group’s top automotive designers to develop our eVTOL vehicle for manufacturability and wide-spread public acceptance,” Shin added. “We are taking the time to create a safe, light-weight commercial eVTOL that provides our future passengers with the security and comfort they find in their own cars.”

    The team of engineers and designers utilized the automotive industry’s reductive design approach to create the light-weight interior cabin, which is made of forged carbon fiber. Ergonomically contoured seats offer a cocoon-like environment for passengers. Deployable seat consoles mimic automobile center consoles and provide a charging station and stowage compartment for personal items. Grab handles built into the cabin doors and seatbacks assist with ingress and egress. A combination of lighting – including overhead lights inspired by automobile sunroofs – adjusts with the various stages of flight to emulate a “light therapy” effect. The cabin layout draws on automotive space innovation with a minimized bulkhead, which allows for generous headroom and package functionalities.

    With sustainability as a priority, the cabin concept incorporates materials such as advanced recyclable carbon fiber reinforced thermoplastic, durable plant-based leather, recycled plastic fabric and responsibly sourced woods. The seat frame also utilizes excess raw material from the airframe manufacturing process.

    “The Supernal eVTOL vehicle draws on the competence of the Hyundai Motor Group and the skillset of experienced automotive designers, which allowed us to develop a new air mobility concept that is not only safe and rational but also highly emotional,” said Luc Donckerwolke, Chief Creative Officer of Hyundai Motor Group.

    Developing Air Mobility Beyond Urban Markets

    The Group is leveraging its expansive mobility and mobility-enabling capabilities to develop a family of electric air vehicles, as well as the surrounding value chain.

    Complementing U.S.-based Supernal’s battery-powered eVTOL vehicle designed for intra-city passenger journeys starting in 2028, the Group’s Korea-based division (the Division) focused on Regional Air Mobility is developing a hydrogen-powered mid-sized vehicle for regional – city-to-city – cargo and passenger journeys. The Division plans to launch service of its hydrogen vehicle in the 2030s.

    Supernal and the Division are partnering with the Group’s manufacturing innovation teams across the globe to create a robust high-rate, high-quality AAM manufacturing process that will produce electric air vehicles at scale – at an increasingly affordable price-point – over the coming decades.

    “Hyundai Motor Group is working to leverage synergies between automotive’s high-rate manufacturing capabilities and aerospace’s high certification standards to build the foundation for everyday use of passenger and cargo air vehicles,” Shin said.

    The signing ceremony took place at Supernal’s booth at Farnborough Airshow and was attended by Warren East, CEO of Rolls-Royce, Grazia Vittadini, Chief Technology and Strategy Officer and Rob Watson, President of Rolls-Royce Electrical as well as Euisun Chung, Executive Chair of Hyundai Motor Group, Jaiwon Shin, President and Head of AAM Division of Hyundai Motor Group, and Jaeyong Song, Vice President of AAM Division of Hyundai Motor Group.

    Jaiwon Shin, President of Hyundai Motor Group, said: “We are pleased to partner with Rolls-Royce to draw upon their aviation and certification expertise to accelerate the development of hydrogen fuel-cell propulsion systems. Hyundai has successfully delivered hydrogen fuel cell systems to the global automotive market and is now exploring the feasibility of electric and hydrogen propulsion technologies for aerospace integration. We believe this to be the key technology to support the global aviation industry’s goal to fly net zero carbon by 2050.”

    Rob Watson, President, Rolls-Royce Electrical, said: “We are delighted to partner with Hyundai Motor Group which provides a valuable opportunity to leverage and build on the capabilities each company brings from the aerospace and automotive sectors. The Advanced Air Mobility Market offers great commercial potential, and this collaboration supports our joint ambitions to lead the way in the Advanced Air Mobility Market. It is also another demonstration of Rolls-Royce’s role in delivering the solutions that will enable passengers to travel sustainably and help deliver net zero carbon by 2050.”

    The benefits of using a hydrogen fuel cell system in an all-electric aircraft propulsion system is that it is a zero-emission, silent and reliable on-board power source that enables scalability in power offerings as well as long distance flight range. Hyundai will work with Rolls-Royce to bring hydrogen fuel cells, storage systems and infrastructure to the aerospace markets, and advance this technology into Hyundai’s RAM vehicles and Rolls-Royce all-electric and hybrid-electric propulsion system offerings.

    Last year, Rolls-Royce announced a pathway to net zero carbon emissions and its electrical technology is one way in which the company is helping decarbonise critical parts of the global economy. Rolls-Royce is committed to ensuring its new products will be compatible with net zero carbon operation by 2030 and all its products will be compatible with net zero carbon by 2050.

    Hyundai Motor Group earlier this year announced its AAM business roadmap, which encompasses the UAM and RAM segments to offer eco-friendly air mobility solutions for people within and between cities. Hyundai Motor Group’s US-based Supernal unit is aiming to begin commercial services of UAM businesses in the US in 2028 while Hyundai Motor Group plans to launch RAM services in the 2030s.