Hyundai's Chairman Euisun Chung Emphasizes Local R&D and Powertrain Localization in Brazil

"To secure sustainable long-term business competitiveness, we must strengthen local research and development (R&D) capabilities and actively promote powertrain localization," said Euisun Chung, Chairman of Hyundai Motor Group, during his visit to the R&D center for South America at Hyundai's Brazil plant on July 27 (local time). Chung's visit coincided with South Korean President Lee Jae-myung's state visit, as he accompanied a Korean economic delegation to Brazil.

Brazil, the world's sixth-largest automotive market, serves as a crucial hub for Hyundai in South America, housing both the Hyundai Brazil production facility and the regional headquarters. Since its completion in 2012, the plant has successfully produced 200,000 strategic vehicles for Brazil each year.

Following his visit to the R&D center, Chung inspected the production quality of the newly launched compact hatchback 'i20' and the representative sports utility vehicle (SUV) 'Creta.' He also commended local employees for achieving a cumulative production milestone of 2.5 million vehicles as of March this year.

Chung remarked, "The record of surpassing 2.5 million vehicles produced in 13 years is a testament to the dedication and teamwork of the employees at the Brazil plant. Brazil is a very important market for Hyundai's global operations, and I deeply appreciate the achievements made so far."

During his tour of the plant, Chung received operational reports and discussed long-term development strategies in production and sales. He noted, "As Brazil faces changes in its industrial environment and new competitive dynamics, there are various challenges and tasks ahead. We will actively support efforts to achieve greater leaps in Brazil at a corporate level."

He emphasized the need for all members to prioritize fundamentals and principles while fostering a collaborative culture, aiming to solidify the brand's reputation as one that earns trust and affection from customers.

Meanwhile, Hyundai Motor Group plans to invest a total of $1.1 billion by 2032 in eco-friendly sectors, including hydrogen and future technologies, through its Brazilian subsidiary and local partners.