Hyundai Motor Company Publishes 2020 Sustainability Report... "Concrete Steps Toward Future Mobility Growth"

Contains the 2025 Strategy-Based Mid- to Long-Term Plan

Hyundai Motor Company Publishes 2020 Sustainability Report (Photo by Hyundai Motor Company)

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company published its ‘2020 Sustainability Report’ on the 31st, which contains the achievements of sustainable management over the past year and mid- to long-term plans.

In the report’s greeting, Hyundai Motor President Lee Won-hee stated, "This year, Hyundai Motor faces more serious crises and challenges than ever as the global spread of the novel coronavirus infection (COVID-19) threatens worldwide economic development and social stability," adding, "Despite these circumstances, Hyundai Motor will concretize new growth in the future mobility market centered on the mid- to long-term innovation plan, Strategy 2025, and prepare ahead for the post-COVID-19 era to continue progress for humanity."

Specifically, he emphasized, "We will prioritize securing liquidity to actively respond to changes and flexibly adjust production and sales according to market conditions to minimize losses," and "We will also reduce production costs through streamlining unnecessary lineups and powertrains, design innovation, and standardization of manufacturing methods, and ensure profitability-focused decision-making by securing flexibility in the global production system." Regarding future growth strategies, he added, "In the hydrogen fuel cell vehicle sector, we will expand our business areas to include not only vehicles but also fuel cell systems and related infrastructure, and in the mobility service sector, we will fully implement regional businesses in Korea, India, and Europe to prepare for tangible results."

This sustainability report is divided into a ‘Report Section’ for shareholders and investors and a ‘Magazine Section’ for general readers to enhance readability and clearly convey information. The Report Section contains key achievements and mid- to long-term plans in five major areas of sustainable management based on Strategy 2025. The five major areas of sustainable management are ▲innovation of customer experience based on smart mobility ▲pursuit of eco-friendly values throughout the entire process ▲creation of a sustainable supply chain ▲establishment of a healthy organizational culture ▲contribution to and development of local communities. Notably, this year’s report also includes cooperation efforts with various stakeholders such as customers, employees, partners, and local communities to overcome the COVID-19 crisis.

The Magazine Section presents major cases demonstrating Hyundai Motor’s efforts for sustainable management. It covers four core issues through examples: ▲‘Eco-friendly Vehicles’ emphasizing technology and achievements accelerating the realization of a hydrogen society ▲‘Advanced Technology’ introducing newly launched Hyundai technologies ▲‘Social Value’ adding positive impacts to global communities ▲‘Autonomy and Empowerment’ toward a corporate culture that enables creative innovation and challenges.

A Hyundai Motor official said, “We have strengthened information disclosure by complying with global standards for sustainability reporting and various ESG evaluation indicators,” and added, “Going forward, Hyundai Motor will comprehensively manage strategies, implementation plans, and achievements from a mid- to long-term perspective and become a sustainable company that listens to the voices of diverse stakeholders.”

This content was produced with the assistance of AI translation services.