Hyundai Partners With Toray To Develop Materials Technology For Its EVs

Hyundai Motor Group and Toray Industries have joined forces in a partnership made to increase and drive innovation in materials technology for mobility solutions including electric vehicles (EVs). This partnership will consist of making and designing lightweight but high-strength materials with carbon-reinforced plastic (CFRP) for performance improvement and EV safety.

The partnership was established at a signing ceremony held at Hyundai’s headquarters in Seoul, South Korea. Important figures present at the signing ceremony include Chairman of Toray Industries Akihiro Nikkaku and President of Toray Industries Mitsuo Ohya. Both individuals showed their dedication to innovating the materials technology sector.

As for Toray, the company has been a leader in carbon fiber and composite material production on a global scale and its skills will be aimed at electrification and sustainability in the automotive industry as demands are growing. As for Hyundai, the company is planning to use this partnership to elevate itself to go ahead in the EV market race and plant itself to lead the mobility solutions sector in the EV industry.

Following Hyundai’s successful Q1 2024 performance with an increase of 100% in the U.S. EV sales and the unveiling of the IONIQ 5 N eN1 Cup EV, Toray’s help will further entice EV buyers to consider Hyunida’s EV lineup once it is implemented with high-performance materials technology. Furthermore, the materials technology from Toray is also going to improve EV batteries and motors with the aforementioned CFRP materials for performance enhancement.

Following the success of the Kia EV9 winning 2024 World Car of the Year award, Kia’s President and CEO Chang Song who was also present at the signing ceremony expressed his enthusiasm for the partnership stating, “By combining our automotive expertise with Toray Group’s material technology prowess, we aim to become the first mover and gain a competitive edge in the global market.”

As a result, this partnership will lead to a new era of materials technology innovation that will bring new avenues for the EV industry to consider improving as well. With better performance, EV safety, and sustainable practices being the priorities, the path to full electric mobility is getting closer with the materials technology embracing innovation.

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