In a major step toward material innovation, Toray Group and Hyundai Motor Group have announced a strategic collaboration to develop high-performance composite materials for next-generation mobility. The partnership encompasses the entire value chain from research and development to production and commercialization aiming to leverage advanced composites for lighter, stronger, and more sustainable vehicle structures.

The signing ceremony took place on October 24 at Hyundai Motor Group s headquarters in Korea. Key attendees included Heung-soo Kim, Executive Vice President and Head of Global Strategy Office at Hyundai Motor Group and Miki Terada, General Manager of Advanced Composites Division at Toray Group.

This agreement marks an important milestone in our partnership, as it represents the first tangible outcome of our strategic collaboration initiated last year," said EVP Kim. By clearly defining our focus areas and combining our respective strengths, we will work closely together across the entire process from R&D to production and commercialization in the field of advanced composite materials, enhancing our ability to respond to market demands.

Miki Terada, General Manager of Advanced Composites Division at Toray Group, also commented that The Joint Development Agreement marks a significant step forward in advancing the partnership established in the previous year. Leveraging Toray s unique material technologies and extensive expertise, we will collaborate closely with Hyundai Motor Group to create innovative composite solutions essential for next-generation mobility. From R&D to production and commercialization, we will work in close coordination to enhance our competitiveness in the global market.

Building on the strategic cooperation agreement signed in April 2024, the two companies have continued to work together to develop high-performance composite materials, such as carbon fiber-reinforced plastic (CFRP), to enhance safety and performance in mobility.

Since then, the two companies have identified projects that maximize synergy through close collaboration and have outlined concrete plans for joint development by leveraging their respective strengths.

The newly signed agreement represents a major step forward in their collaboration, accelerating the development of advanced materials and components for future mobility, including high-performance vehicles as well as special-purpose mobility such as lunar exploration rovers and robots.