According to Yonhap News Agency, on February 23rd, Hyundai Motor Company of South Korea stated that Euisun Chung, Chairman of Hyundai Motor Group, recently pledged during his visit to Brazil that Hyundai Motor Brazil and its local partners will invest $1.1 billion in environmental and future technology sectors by 2032.
A statement from the Brazilian presidency said that Hyundai's investment will be focused on the technological sector, particularly hybrid, electric, and green hydrogen fuel vehicles. It is reported that Euisun Chung introduced Hyundai's electrification strategy to Brazilian President Luiz Inacio Lula da Silva, including electric and hydrogen fuel cell vehicles, hoping to achieve zero emissions targets. Euisun Chung emphasized that hydrogen is a key tool in addressing climate change and an important resource for complementing electrification efforts.
As early as November 2012, Hyundai began operating a manufacturing plant in Piracicaba, São Paulo state, Brazil, which is Hyundai's only manufacturing base in Central and South America.
Hyundai expressed gratitude to the Brazilian government for its longstanding concern and support for Hyundai's Brazilian operations, and introduced various efforts made by Hyundai for local employees and communities. Euisun Chung noted the Brazilian government's efforts to develop environmentally friendly energy and stated that "Hyundai is willing to contribute to Brazil's efforts in this regard."
Brazil has been implementing multifaceted environmental policies with the goal of reducing greenhouse gas emissions by 50% from 2005 levels by 2030 and achieving carbon neutrality by 2050.
Hyundai Motor Group stated that it is expanding its global hydrogen network to Central and South America, with Brazil at the forefront. Last year, the company established a dedicated hydrogen department in Brazil.
