Under the agreement, Hyundai Motor Group and Toray plan to develop carbon fiber reinforced plastics and other lightweight materials together to improve the performance and safety of products. The partnership aims to actively apply new materials to future products and lead innovation in the industry by achieving differentiated competitiveness in the field.

According to a news released from Hyundai Motor, Toray focuses on fibers and textiles, high-performance chemicals, carbon fiber composites, environmental engineering and life sciences. Toray is known for its global leadership in carbon fiber, which is widely used in advanced industries such as automotive and aviation due to its excellent properties such as light weight, high strength and good heat resistance.

Hyundai Motor noted that the partnership with Toray will play a key role in its future products. In addition to electrification and software-defined vehicles (SDV), the group has also been pursuing advances in materials technology.

Song Chang-hyeon, president of Hyundai Motor’s Advanced Vehicle Platform, said that “Combining Hyundai Motor Group’s automotive technology expertise with Toray’s materials technology will give us a first-mover advantage in the global market.”