The memorandum of understanding, which was signed in Abu Dhabi, represents a starting point for joint strategic cooperation that will enhance the progress made in the future mobility and clean technologies sector, according to the statement.
Under this agreement, the two companies will cooperate in joint investment projects in various fields, including green steel production, green aluminum production and recycling, as well as self-driving technologies, robotics, advanced technologies, air mobility, and electric vehicle infrastructure.
In addition, Hyundai Motor and Mubadala will cooperate to explore potential future investment opportunities.
Jehoon Chang, President and CEO of Hyundai Motor, said: “This cooperation has many benefits due to the synergy between Hyundai Motor’s strategies for future green businesses, including hydrogen, green steel and green aluminum, as well as future mobility technologies and Mubadala’s investment portfolio. Hyundai Motor endeavors to conclude more diverse partnerships to contribute to building a sustainable future and supporting the global energy transition.”
For his part, Waleed Al Mokarrab Al Muhairi, Executive Vice President of Mubadala Group, said: “This strategic partnership with Hyundai Motor Company represents a major step in our journey aimed at enhancing the diversification of our investment portfolio across future sectors that hold promising opportunities for the world, such as mobility, green technology and energy.”
Al Muhairi added: “We look forward to exploring ways to cooperate with Hyundai Motor Company and expanding our presence in South Korea.”
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