Hyundai Enters Research and Development Agreement with Advanced Materials Firm

Hyundai will partner with Toray, a leading developer and manufacturer of chemicals and advanced materials, in hopes of making the Korean automaker a pioneer in a new era of transportation and mobility.

Hyundai’s Long-Term Partnership with Toray

Executives from Hyundai and Tokyo-based Toray Industries on April 18 signed an agreement on their “strategic partnership” at a ceremony in Seoul.

Toray is a maker of industrial chemicals and fibers — particularly carbon fiber materials and composites — as well as products for life science and environmental engineering applications.

Toray: A Leader in Carbon Fiber

Hyundai officials called Toray a “global leader” in carbon fiber, which is used widely in vehicle production and aerospace manufacturing, among other industries, due to its strength, lightweight, and resistance to heat.

Toray Continues to Innovate

Toray President Mitsuo Ohya said in the announcement that the company’s materials and technology have particularly focused on electrification and sustainability in the auto industry and that the newly announced partnership would “continue this innovation.”

Source: Thomas