Hyundai Motor Group Executive Chair Euisun Chung Outlines ‘Sustainable Growth through Consistent Change’ in New Year’s Message

Hyundai Motor Group presented its 2024 New Year address today at the Kia AutoLand Gwangmyeong, marking the inauguration of the first electric vehicle (EV) plant in Korea. The address, themed 'Together, a Valuable Start,' was led by Hyundai Motor Group Executive Chair Euisun Chung, who, along with executives from affiliated companies, outlined the Group's key focus areas for the upcoming year.

Executive Chair Chung emphasised the mission for the year as ‘Consistency and Sustainability’, aiming to fortify the Group's capabilities continuously, enabling it to overcome challenges and achieve enduring progress. He highlighted the importance of 'consistent change' and 'sustainable growth' in navigating global uncertainties and intensifying competition.

Focusing on 2024 and beyond, Chung said, “I am excited about the series of innovations in electrification that will start here at AutoLand Gwangmyeong, the Group’s first EV-dedicated plant, and expand to Ulsan, the United States and beyond.
 
The Group aims to complete the redevelopment of the Kia AutoLand Gwangmyeong EV Plant in the second quarter, producing the compact EV3 for both domestic and international markets. The sequential launch of additional EV plants, including Kia's AutoLand Hwaseong and Hyundai Motor Ulsan, aligns with the Group's strategy to become a top-three global EV manufacturer by 2030.

Addressing the need for consistent change, Chung emphasized its role in fostering innovation and encouraged a corporate culture that actively promotes creativity. He underscored the importance of earning customer trust through quality, urging the workforce to stay competitive and differentiate the Group through innovative products and services.

In line with the Group's vision for a sustainable future, Chung emphasized the role of consistent innovation in achieving growth not only for customers and the company but for humanity. He highlighted the Group's commitment to environmental responsibility, including efforts in carbon neutrality, the circular economy, and the development of a global hydrogen ecosystem.

The ceremony coincided with Kia's 80th anniversary and the 50th anniversary of the launch of the first Kia passenger car, the Brisa, produced at Kia AutoLand Gwangmyeong. Following the address, various Group executives presented plans for the dedicated EV plant, Advanced Air Mobility (AAM), and robotics.