Hyundai Electric opens an R&D center in Budapest

Hyundai Electric and Energy Systems, an electric systems company affiliated with shipbuilder Hyundai Heavy Industries, opened an R&D center in Budapest, the capital of Hungary, the company said Monday.

The center will play a central role in developing power-conversion technologies crucial for microgrids, which are small-scale electrical grids used to power small residential communities like islands using renewable energy sources.

While Hyundai Electric has been operating two separate R&D offices in Budapest, it decided to integrate them in a new five-story building to enhance efficiency and give researchers enough room to make product prototypes and test them, according to the company.

CEO Joo Young-keol of Hyundai Electric said the Hungary-based R&D center will create some of the company’s future businesses.

By Kim Jee-hee