New Hyundai Motor Group Innovation Center in Singapore to Transform Customer Experience through Future Mobility R&D

• Construction begins with virtual groundbreaking ceremony attended by Singapore Prime Minister Lee Hsien Loong, South Korea's Industry Minister Sung Yun-mo, and Hyundai Motor Group Executive Vice Chairman Euisun Chung
• HMGICS to serve as an innovation center for future mobility studies
• Construction due to be completed by the end of 2022
• Center to lead paradigm shift in mobility value chain, spanning the entire lifecycle of vehicles
• Small-scale manufacturing capabilities focused on EVs to test a customer-centered manufacturing platform
• HMGICS to explore new business concepts, including battery-as-a-service

SEOUL, South Korea and SINGAPORE, Oct. 13, 2020 /PRNewswire/ -- Hyundai Motor Group (the Group) celebrated the groundbreaking announcement of the Hyundai Motor Group Innovation Center in Singapore (HMGICS) with a virtual ceremony today. The center will act as an open innovation lab for the Group's future mobility research and development, with the aim of revolutionizing the future mobility value chain.

"HMGICS is a major step forward for Hyundai Motor. The facility is the first of its kind in the world. It will pave the way for more Korean companies to invest here, partner with local suppliers and SMEs, and collaborate with our universities and research institutes," said Singapore Prime Minister Lee Hsien Loong. "Singapore's goal is to have all our vehicles run on cleaner energy by 2040, in line with our Paris Agreement commitments. We hope this will open up new growth areas for our economy, and create exciting jobs for Singaporeans."

(For full speech, please refer to the following link : https://www.pmo.gov.sg/Newsroom)

"Korea and Singapore have cooperated on multiple fronts and the HMGICS represents a new milestone in the continuing collaboration between our two nations," said Sung Yun-mo, Korean Minister of Trade, Industry and Energy. "The key to this collaboration will lie in finding ways to bring together our respective strengths."

"Hyundai Motor Group Innovation Center in Singapore will strive for 'Human-Centered Value Chain Innovation for a Mobility Paradigm Shift.' We will offer products and services tailored to customers' needs," said Hyundai Motor Group Executive Vice Chairman Euisun Chung. "I am confident the innovations that spring from HMGICS will shape our future global society for the better and contribute to the progress of humanity."