Euisun Chung Named Automotive Industry’s Industry Leader of the Year
Hyundai Motor Group Chairman Euisun Chung has been selected as the automotive industry’s Industry Leader of the Year.
The globally respected U.S. automotive specialist media, Automotive News, announced the ‘2023 Automotive News All-Stars’ on the 27th (local time) and named Chairman Chung the winner of the Industry Leader category in the 2023 Automotive News All-Stars awards.
Established in the U.S. in 1925, Automotive News has a global influence through its online and Chinese editions and readership in English-speaking countries. It announces about 30 global automotive industry all-stars each year through strict review and evaluation by its editorial staff and reporters. It selects the person who has shown the most outstanding leadership in the global automotive industry over the past year.
Notably, the Automotive News All-Stars awards have awarded Sergio Marchionne, former CEO of SGS in 2014, Mary Barra, Chairman and CEO of GM in 2018, and Bill Ford, Executive Chairman of Ford in 2020, as the Industry Leaders.
Chairman Chung’s Achievements and Vision
Automotive News stated, “Chairman Chung is leading various future technologies and writing a new history of mobility,” and “Hyundai Motor Group is leading the innovation of the automotive industry.”
It highly evaluated Chairman Chung’s disruptive innovation, transforming Hyundai Motor Group into a next-generation mobility “Game Changer” with a future-oriented vision.
The selection also cited Chairman Chung’s differentiated electrification strategy and new business promotion.
Automotive News introduced, “Under the leadership of Chairman Chung, Hyundai Motor Group, a global top 3 automotive company, is further strengthening its position not only in premium car brands and PBV (Purpose Built Vehicle, purpose-based mobility) but also in the field of electric cars and hydrogen energy,” and added, “Hyundai Motor Group is pushing for a bold investment of 63 trillion won for electrification transition and new technology development”.
Automotive News praised, “Chairman Chung has proposed advanced robotics, Artificial Intelligence (AI) and Advanced Air Mobility (AAM), his concepts are bold, futuristic and abstract, creating a ‘Mobility of Things’ that covers movement in all forms.”
In his statement, Chairman Chung expressed his gratitude: “The efforts of all Hyundai Motor Group employees and partners worldwide to realize the vision of ‘Progress for Humanity’ have been recognized.”
Chairman Chung continued, “Hyundai Motor Group will stimulate positive change in human development and continuously provide value beyond customer expectations through ‘smart mobility solutions’ such as robotics, AI, PBV, and SDV, AAM,” and emphasized, “The fun imagination of future mobility is the driving force that leads Hyundai Motor Group members to innovation.”
*SDV: Software Defined Vehicle, software-centric car
E-GMP and Hyundai’s Success in Electric Vehicle Market
Chairman Chung, who is celebrating his third year in office this year, is leading the growth of Hyundai Motor Group through relentless innovation, redefining the realm of mobility in various fields, and attracting the attention of the global automotive industry.
Chairman Chung’s decision that a globally top-tier electric vehicle platform, which competitors do not have, is necessary to lead the era of electrification led to the development of the E-GMP (Electric-Global Modular Platform), Hyundai Motor Group’s dedicated electric vehicle platform unveiled in 2020.
Attractive dedicated electric vehicle models of Hyundai Motor Group that applied E-GMP, such as Ioniq 5, EV6, GV60, Ioniq 6, and EV9, have swept major awards in each country, including the World Car of the Year (WCOTY), North American Car of the Year (NACOTY), and European Car of the Year (ECOTY), receiving rave reviews from influential media around the world.
Chairman Chung’s vision of next-generation mobility, aiming to provide humans with a higher mobility experience, gradually picks up speed as it materializes into robotics, autonomous driving, AAM, SDV, etc.
Advancements in Robotics, Autonomous Driving, and Air Mobility
In robotics, Hyundai Motor Group is conducting research to secure a technological leap in the field of robots and internalize core technologies centered on Boston Dynamics and Robotics Lab.
The U.S. and other countries use the quadruped robot Spot at disaster sites. The medical wearable robot X-ble MEX and the wearable robot VEX, which assist workers working long hours, are liberating humans from the constraints of mobility and space.
In the field of autonomous driving, the commitment focuses on developing innovative technologies with safety as the top priority.
Through its autonomous driving joint venture Motional, it plans to launch an unmanned robotaxi service in Las Vegas, U.S., by the end of this year. It is conducting a robot shuttle pilot service in Korea at the National Assembly and Hyundai Motor∙Kia Namyang Research Institute. Hyundai Motor Group’s global software center 42dot also operates a customized autonomous driving shuttle service on the Cheonggyecheon Stream in Seoul.
Software-defined Vehicles and Future Plans
Future air mobility is considered a key element in developing future cities such as smart cities.
Hyundai Motor Group aims to start commercial services in 2028 through its independent urban air mobility company in the U.S., Supernal.
This is also accelerating the construction of an ecosystem encompassing future air mobility with domestic and overseas partners such as Rolls-Royce, a British aircraft engine manufacturer, and Microsoft.
Hyundai Motor Group plans to convert all its models to SDV by 2025.
By 2025, it plans to provide wireless (OTA, Over-the-air) software updates to all models sold in the global market and to build a data platform that connects and processes various data generated throughout the life cycle so that customers can enjoy the freedom of movement and innovative user experience connected by software. In addition, it is also focusing on securing software source technology, such as the development of vehicle software that closely interacts with vehicle driving assistance and connected infotainment services.
Global Innovation Hub for Future Mobility Solutions
Hyundai Motor Group’s global open innovation hub for future mobility solutions, Hyundai Motor Group Singapore Global Innovation Center (HMGICS), also officially launched on the 21st.
Through HMGICS, Hyundai Motor Group plans to research and verify technology innovation based on intelligent, automated manufacturing platforms, manufacturing innovation centered on multi-product flexible production systems, and business innovation such as building sales models based on customer experience, and gradually introduce the secured innovative technologies to global new factories including Hyundai Motor Group Metaplant America (HMGMA) in Georgia, U.S., and Ulsan EV dedicated factory.
Meanwhile, in January, MotorTrend, a famous U.S. automotive media, named Chairman Chung Person of the Year 2023, the most influential person among the 2023 MotorTrend Power List 50.
Last year, Newsweek selected him as the inaugural winner of the Visionary of the Year among The World’s Greatest Auto Disruptors 2022.
The Visionary of the Year award recognizes industry leaders who will significantly impact the automotive industry’s future for over 30 years.
In 2021, he also won the Issigonis Trophy, the highest honor of the 2021 Autocar Awards hosted by the UK automotive specialist Autocar, named after the legendary car designer and engineer Alec Issigonis.
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