Hyundai and Toray Industries have entered into a strategic joint development agreement to collaborate on next-generation materials and components for advanced mobility.
Signed on 24 October at Hyundai Motor Group’s Seoul headquarters, the agreement focuses on creating high-performance composites for future applications, including high-speed vehicles, lunar exploration rovers, and robotics.
It builds on the strategic cooperation agreement that the two companies initiated in April 2024.
Under the new partnership, Hyundai Motor Group will lead vehicle-level design, performance evaluation, and material suitability studies through its Materials Research & Engineering Center.
Toray Group will develop intermediate materials and moulded products using its advanced carbon fiber technologies, with contributions from its subsidiaries in Korea, the Netherlands, and Germany.
Heung-soo Kim, Executive Vice President and Head of the Global Strategy Office at Hyundai Motor Group, said the deal marks a key milestone in their collaboration.
“By clearly defining our focus areas and combining our respective strengths, we will work closely together across the entire process, from R&D to production and commercialization, in the field of advanced composite materials, enhancing our ability to respond to market demands.”
Miki Terada, General Manager of Toray’s Advanced Composites Division, stated that the agreement strengthens their commitment to joint innovation.
“Leveraging Toray’s unique material technologies and expertise, we will collaborate closely with Hyundai Motor Group to create innovative composite solutions essential for next-generation mobility,” he said.
Since their initial collaboration, Hyundai and Toray have been developing advanced carbon fiber-reinforced plastics (CFRP) to enhance safety, strength, and performance in mobility applications.
The expanded partnership now spans the full value chain, from research and development to production and commercialisation, intending to accelerate innovation in sustainable mobility and open new global market opportunities.
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