Hyundai Motor Group is seeking opportunities in smart city projects in Kazakhstan.
On September 16, Hyundai Motor Group signed an agreement with Kazakhstan's private investment firm 'Caspian Group' and financial and investment company 'United Group Alatau' to advance the Alatau City Project.
The Alatau City Project is the largest new city development in Kazakhstan, covering 880 square kilometers north of Almaty, the country's largest city. Caspian Group will lead urban development and local execution, while United Group Alatau will integrate financial and digital ecosystems.
Through this agreement, Hyundai aims to establish Kazakhstan as a hub for physical AI-based future city projects in Central Asia, collaborating with local companies to explore and validate the feasibility of smart city initiatives in Alatau City.
Hyundai will prioritize business opportunities related to urban development and operations in the key area of Alatau City, which connects to Almaty.
Additionally, the company will comprehensively review collaboration possibilities in mobility, energy, and digital sectors, gradually specifying the scope of projects and participation methods through feasibility studies.
A Hyundai representative stated, "Kazakhstan is an important market where we have built a business foundation over many years. Through this collaboration, we aim to discover new business opportunities based on actual customer and urban demand. We will strive to ensure that Alatau City becomes a model for demonstrating future urban services and new mobility business models after thorough business viability assessments."
Meanwhile, Hyundai has a local production base in Almaty capable of producing 50,000 vehicles annually.
* This article has been translated by AI.
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