Hyundai Motor Group Chairman Chung Eui-Sun visited Brazil, the largest economy in Latin America, and met with Brazilian President Luiz Inácio Lula da Silva.
Brazil is Hyundai Motor Group's only production base in Latin America and is home to Hyundai Motor Brazil and its regional headquarters for Latin America, which are at the forefront of the company's expansion into the Latin American market.
President Lula and Chairman Chung were joined by Brazilian Vice President and Minister of Industry, Trade, and Energy Geraldo Alckmin and Hyundai Motor Company President and COO Jose Muñoz at the Presidential Office in Brasilia, Brazil on February 22 (local time).
Chairman Chung first thanked the Brazilian government for its continued interest and support for Hyundai Motor Brazil and introduced the company's various initiatives for employees and the local community.
"Hyundai Motor Group wants to grow together with Brazil, not just by selling cars," said Chung, "and we are conducting various social contribution activities for the Brazilian community, including free dental treatment and reforestation programs."
"With the happiness of our workers as our top priority, we have created a safe working environment, regularly conducting joint labor-management seminars and meetings, and have been able to settle wage negotiations without a dispute for 11 consecutive years," he added.
As a result of its employee-friendly systems, Hyundai Motor Brazil has been certified by the São Paulo State Employment and Labor Relations Service (SERT) as an Excellent Company for Quality Jobs.
Commenting on the Brazilian government's decarbonization policy, Chairman Chung said, "I am well aware of the Brazilian government's efforts to research, develop and apply green energy sources," and expressed his deep sympathy for the government's various eco-friendly policies, adding, "If Hyundai Motor Group can contribute in the field of hydrogen and green mobility, we will actively participate."
Chairman Chung said Hyundai Motor Brazil and its local partners plan to invest $1.1 billion by 2032 in hydrogen and other eco-friendly fields and future technologies.
In December last year, Brazil announced the Green Mobility and Innovation Program (MOVER), which grants tax cuts and subsidies totaling 19 billion reais (about 5.1 trillion won) to automakers investing in the country's decarbonization sector, and global automakers are planning to invest in Brazil.
"Hyundai Motor Group is pursuing a rapid electrification strategy that includes electric and hydrogen vehicles to achieve zero carbon emissions, and hydrogen energy is a key means of combating climate change and an important resource to complement electrification," said Chairman Chung.
Chairman Chung also explained Advanced Air Mobility (AAM), which Hyundai Motor Group is promoting to expand its market and secure technological competitiveness as part of securing future mobility leadership, and Small Modular Reactor (SMR), which Hyundai Motor Group is developing as a reliable power generation source.
"I am convinced that AAM is a future transportation method suitable for the Brazilian transportation environment, and I hope we can explore ways to cooperate in the SMR field," said Chairman Chung.
"We will also cooperate with Brazilian universities for joint research and human resource development," said Chung, referring to his scheduled meeting with University of São Paulo President Carlos Gilberto Carlotti Junior later in the day.
"Hyundai is an important company that is growing in Brazil," said President Lula, emphasizing the Brazilian government's tax reforms and improved investment climate.
The Brazilian government is implementing various eco-friendly policies with the goal of reducing greenhouse gas emissions by 50% from 2005 levels by 2030 and achieving carbon neutrality by 2050.
Hyundai Motor Group is actively pursuing growth plans for a new leap forward in the Brazilian market, including establishing itself as a leading brand in electrification and exploring business opportunities utilizing Hyundai Motor Group's advanced hydrogen technology, as competition for eco-friendly mobility intensifies.
