Hyundai Motor Group Focuses on Eco-Friendly Vehicle Development... Leading Carbon Neutrality 'Environmental Management'

Song Hoseong, President of Kia, is presenting at Investor Day last February.

[Asia Economy Reporter Choi Dae-yeol] "For sustainable growth, it is very important to actively practice ESG (Environmental, Social, Governance) management and communicate exemplary with society."

This was emphasized by Chung Eui-sun, Chairman of Hyundai Motor Group, in his New Year's address this year. It reflects his consideration of how a company should position itself as a member of society. He said, "We must create a virtuous cycle structure that can grow in a more advanced direction together with shareholders, investors, local communities, and customers who are with us," adding, "We must invest and make efforts in environmental protection and industrial safety to become a model company."

To this end, Hyundai is accelerating the development of eco-friendly vehicles while strengthening environmental management. Hyundai and Genesis have set sales targets for electric vehicles at 840,000 units by 2026 and 1.87 million units by 2030. This means increasing sales sixfold within five years and more than thirteenfold within ten years compared to last year. Kia has decided to raise the global sales ratio of eco-friendly vehicles to 52% by 2030. In major markets such as North America, Europe, and China, the goal is to increase this ratio to 78%.

Genesis plans to launch only electrified vehicles for all new models starting in 2025. It has joined RE100, which supplies all electricity used at global business sites from renewable energy, and has also unveiled a blueprint to achieve carbon neutrality across all stages from vehicle production to operation and disposal by 2045.

Safety and health activity capabilities will also be strengthened. In addition to introducing wearable devices integrated with robot technology, the budget for safety and health will be increased for proactive responses. The introduction of leading indicators focusing on reducing accident types that frequently occur is based on the same background. Various channels such as ombudsman, webcasting, and CEO Investor Day have been established and operated to increase communication with stakeholders including shareholders and customers.

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