Hyundai Motor this week broke ground on a new R&D centre in Singapore dedicated to the development of new mobility business opportunities.
Construction of the Hyundai Motor Group Innovation Center in Singapore (HMGICS) began with a virtual ceremony attended by Singapore prime minister Lee Hsien Loong, South Korean industry minister Sung Yun-mo and Hyundai Motor Group executive vice chairman Euisun Chung.
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It is scheduled to be completed at the end of 2022 and will serve as an "innovation centre for future mobility studies, with the aim of revolutionising the future mobility value chain".
The facility will be the first of its kind in the world, according to the South Korean carmaker, and will also have small scale manufacturing capabilities focused on electric vehicle technology.
Lee Hsien Loong said HMGICS would pave the way for more South Korean companies to invest in Singapore and partner with local suppliers and SMEs, and for them to collaborate with local universities and research institutes.
He added: "Singapore's goal is to have all our vehicles run on cleaner energy by 2040, in line with our Paris Agreement commitments. We hope this will open up new growth areas for our economy and create exciting jobs for Singaporeans."
Euisun Chung said HMGICS would "strive for human-centered value chain innovation for a mobility paradigm shift. We will offer products and services tailored to customers' needs. I am confident the innovations that spring from HMGICS will shape our future global society for the better and contribute to the progress of humanity."
