Hyundai teams up with Tokyo's Toray for carbon fiber in cars

Industry

Published: 18 Apr. 2024, 17:19

Hyundai teams up with Tokyo's Toray for carbon fiber in cars

Executives from Hyundai Motor Group and Toray Industries including Akihiro Nikkaku, third from left, chairman of Toray, Chang Jae-hoon, fourth from left, CEO of Hyundai Motor, and Song Ho-sung, fifth from left, CEO of Kia, take a photo after signing an agreement at Hyundai's headquarters in Yangje-dong, southern Seoul. [HYUNDAI MOTOR]

Hyundai Motor Group has joined forces with Toray Industries, a Tokyo-based materials company, to develop lighter and safer materials for their future cars.

The two signed an agreement for strategic cooperation Thursday, with Akihiro Nikkaku, chairman of Toray, Hyundai CEO Chang Jae-hoon and Kia CEO Song Ho-sung in attendance.

Under the agreement, the two companies will co-develop carbon fiber-reinforced plastic, lightweight and durable materials ideal for improving the performance of cars and bolstering safety.

Established in 1926, Toray Industries specializes in fibers and textiles, performance chemicals, carbon fiber composite materials, environmental engineering and life science. It is renowned as the global leader in carbon fiber, a material widely adopted in advanced industries such as automobiles and aviation due to its lightweight, high strength and heat resistance properties, Hyundai said.

“Hyundai Motor Group aims to leverage this strategic partnership to strengthen its position as a global leader in mobility solutions,” said Song Chang-hyeon, head of advanced vehicle platform division at Hyundai Motor.

“By combining our automotive expertise with Toray’s material technology prowess, we aim to become the first mover and gain a competitive edge in the global market.”

BY SARAH CHEA [chea.sarah@joongang.co.kr]