· Construction begins with virtual groundbreaking ceremony attended by Singapore Prime Minister Lee Hsien Loong, South Korea’s Industry Minister Sung Yun-mo, and Hyundai Motor Group Executive Vice Chairman Euisun Chung
· HMGICS to serve as an innovation center for future mobility studies
· Construction due to be completed by the end of 2022
· Center to lead paradigm shift in mobility value chain, spanning the entire lifecycle of vehicles
· Small-scale manufacturing capabilities focused on EVs to test a customer-centered manufacturing platform
· HMGICS to explore new business concepts, including battery-as-a-service
SEOUL/SINGAPORE, October 13, 2020– Hyundai Motor Group (the Group) celebrated the groundbreaking announcement of the Hyundai Motor Group Innovation Center in Singapore (HMGICS) with a virtual ceremony today. The center will act as an open innovation lab for the Group’s future mobility research and development, with the aim of revolutionizing the future mobility value chain.