Chairman Updates Hyundai Motor Group¡¯s Management Strategies to Visiting U.S. Congressional Delegation
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Chairman Updates Hyundai Motor Group¡¯s Management Strategies to Visiting U.S. Congressional Delegation
Visitors test-drive Hyundai Motor cars, including EQ900 and tour R&D Center

01(Sun), May, 2016





Chairman Chung Mong-koo,2nd R, guides the U.S. congressional delegation through a Hyundai Motor plant near Seoul, where some of the delegation members test drove EQ900, a luxury sedan of Hyundai Motor on March 28. (Photo: Hyundai Motor)



Chairman Chung Mong-koo of Hyundai Motor Group told a group of U.S. senators and congressmen visiting a Hyundai Motor plant on March 28 that he would go all-out for the development of environmentally-friendly technologies and self-driving cars, in explaining the group¡¯ s management strategies.

The five-member delegation also visited Hyundai Motor's Namyang research and development (R&D) center in Hwaseong, Gyeonggi Province, to test-drive the EQ 900 (globally-named G90) premium sedan, the i-Oniq hybrid and other next-generation vehicles. As part of the three-nation tour of Korea, Japan and Australia, the delegation, headed by Senator Deb Fischer arrived March 28 to learn more about Korea's automobile industry and transport infrastructure, Hyundai Motor said.

The other four members are Senators Thad Cochran and John Barrasso, and Representatives John J. Duncan Jr. and Diane Black.

After holding a luncheon meeting with Chairman Chung at the Rolling Hills Hotel in Hwaseong, the U.S. delegation toured Hyundai Motor's R&D center. Among others, they visited the carmaker's design facilities and collision test site.

"Hyundai Motor Group has been placing top priority on advancing autonomous driving technologies to become a leader in this rapidly-emerging auto segment," Chung told them. "We are also making huge investments to develop hybrid, electric and other environment-friendly vehicles to cater to diverse consumer needs and protect the environment."

After test-riding the EQ900, Senator Fischer said that, "The premium sedan will have great appeal to U.S consumers for its luxury interior and driving performance."

Senator John Barrasso was quoted as saying, "Hyundai's strenuous efforts to develop future-oriented vehicles will enable the automaker to become a global leader.¡±

The senators and representatives also watched a video about Hyundai Motor's corporate history and then observed collision tests. On the test track, they test-drove Hyundai's EQ900 and i-Oniq hybrid and electric vehicle, as well as Kia Motors¡¯ Niro compact sports utility vehicle (SUV) and K7 sedan. 

According to the company, they expressed keen interest in the EQ900 premium sedan, which will soon be launched in the United States. The i-Oniq hybrid and other next-generation, environment-friendly vehicles are also scheduled to debut in the world's largest automobile market in the latter half of the year.

In 2016, Hyundai Motor Group aims to increase its market share from last year's 6.2 percent by introducing the extensive lineup of SUVs, and electric and hybrid sedans.

Hyundai said it will sell 783,000 cars this year, up 2.8 percent from 2015, while Kia Motors plans to boost its sales by 8.2 percent to 677,000.

After their first visit to Japan, where they examined the nation¡¯s railroad industry, the group headed to Korea¡¯s largest domestic automaker¡¯s research hub. After consulting with Chung Mong-koo, head of the giant automaker, the members then went on to test drive an EQ900, Hyundai¡¯s first luxury sedan under its Genesis brand. They also test drove various eco-friendly models, including the recently released Ioniq electric and Niro hybrid sport utility vehicles.

¡°The Genesis brand¡¯s luxurious interior design and convenient driving performance would earn great popularity in the United States,¡± Senator Fischer said after driving an EQ900. ¡°We are focusing on combining information and communication technology with electronics technology to develop autonomous cars and environmentally friendly vehicles for the future,¡± Chung said, explaining some of the company¡¯s ambitions during the tour.

The United States has been Korea¡¯s most important trading partner for years, and March 15 marked the fourth anniversary of the free trade agreement between the two countries. Hyundai Motor and Kia Motors both peaked in sales in the U.S. auto market last year, selling a total of 1.39 million cars, a 6.2 percent increase year on year, according to the company.

This year, exports of automobiles and auto parts are expected to increase even more since export tariffs on cars to the United States, previously set at 2.5 percent, will be eliminated this year according to signed free trade agreement terms.

   
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