Hyundai Motor Company and Mubadala Investment Company, an Abu Dhabi-based global sovereign investor, have inked a memorandum of understanding (MOU) to jointly explore potential business opportunities and synergies in upcoming mobility and technological advancements.
At a signing ceremony in Abu Dhabi, Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala Investment Company, solidified a strategic collaboration aimed at driving advancements in future mobility and clean technologies.
This agreement facilitates mutual investment and knowledge sharing, harnessing Mubadala’s investments alongside Hyundai Motor’s expertise in various domains, including eco-friendly steel and aluminum production, recycling initiatives, advanced air mobility (AAM), and electric vehicle infrastructure.
Beyond shared investments, the collaboration will explore untapped investment opportunities.
Jaehoon Chang, President and CEO of Hyundai Motor Company, highlighted, “This partnership aligns with Hyundai Motor’s eco-friendly and forward-thinking business strategies, encompassing hydrogen, green steel, green aluminum, and future mobility technologies. Hyundai Motor remains committed to forging diverse partnerships, fostering a sustainable future, and contributing to the global energy transition.”
Echoing this sentiment, Waleed Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company, remarked, “This strategic alliance with Hyundai Motor Company signifies a crucial step in our quest to diversify our portfolio across pivotal sectors shaping the global economy, such as mobility, green technology, and energy. Through our collective strengths and expertise, we aim to unveil fresh investment prospects aligned with our strategic growth objectives and sustainability initiatives. We eagerly anticipate collaborating with Hyundai Motor Company and extending our footprint within South Korea.”
