Hyundai, Mubadala collaborate on future business opportunities

Hyundai Motor Company (HMC) and Mubadala Investment Company (Mubadala), an Abu Dhabi-based global sovereign investor, have signed a memorandum of understanding (MOU) to jointly explore potential business opportunities and synergies for future mobility and technologies.

The signing ceremony, which took place in Abu Dhabi, was attended by Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala Investment Company. This marks the beginning of a strategic collaboration that will drive progress in future mobility and clean technologies.

The agreement will allow both parties to jointly invest and share expertise, leveraging the advantages of Mubadala’s investments and Hyundai Motor’s expertise in various fields, including green steel production, green aluminum production and recycling, as well as advanced air mobility (AAM), and infrastructure for electric vehicles.

In addition, Hyundai Motor and Mubadala will seek to unlock potential investment opportunities.

“This collaboration capitalizes on the organic synergy between Hyundai Motor’s eco-friendly and futuristic business strategies, including hydrogen, green steel, green aluminum as well as future mobility technologies, and Mubadala’s investment portfolio,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “Hyundai Motor will continue to pursue diverse partnerships to achieve a sustainable future and contribute to the global energy transition.”

Commenting on this agreement, Waleed Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company, said: “This strategic partnership with Hyundai Motor Company marks a significant milestone in our journey to further diversify our portfolio across sectors that are shaping the future of the global economy such as mobility, green technology, and energy. Through our combined strengths and expertise, we will surface new investment opportunities that are in line with our strategic growth ambitions and sustainability agendas. We look forward to collaborating with Hyundai Motor Company and expanding our presence in South Korea.”

Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider.

The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.

In October this year, Mubadala has announced an investment in Korea’s largest dental implant material manufacturer, Osstem Implant (Osstem), in partnership with MBK Partners and Unison Capital.

Focusing on the value segment in more than 30 international markets, Osstem is the world’s fourth largest dental implant material manufacturer. With manufacturing facilities in Korea and the United States, it provides implants as well as dental materials, digital equipment, and a full range of auxiliary services. Osstem focuses on helping dentists provide their patients with total dental treatment solutions that are convenient for both doctors and patients. The company trains more than 110,000 dentists globally every year through its network of 120 dedicated training centers.

“With the growing prevalence of dental disorders and demand for cosmetic dentistry across the globe, access to comprehensive dental solutions plays a vital role in improving public health.” said Camilla Macapili Languille, Head of Life Sciences at Mubadala Investment Company. “We are pleased to partner with MBK Partners and Unison Capital to support Osstem in scaling its best-in-class dental solutions in the high-growth value segment to better serve doctors and patients across the globe.”

“We are seeing a number of attractive opportunities in the South Korean market and are impressed with the quality of the equity partners and the management team we are backing as part of this transaction. We look forward to supporting the next phase of Osstem’s growth,” said Luca Molinari, Head of Asia, Direct Investments at Mubadala Investment Company.