Chung Eui-sun, chairman of Hyundai Motor Group, identified the convergence of software-defined vehicles (SDV) and artificial intelligence (AI) as the key to transforming the mobility industry over the next 25 years.
On the 21st, according to Hyundai Motor Group, Chairman Chung noted in a written interview with Automotive News on the 18th (local time) that "We are entering an era where mobility is transitioning from horse power to processing power." He added, "If electrification has redefined powertrains, then software is redefining the entire value chain, from product development to business models."
This interview was conducted after Automotive News announced the three top executives of Hyundai Motor Group—founder Chung Ju-young, honorary chairman Chung Mong-koo, and chairman Chung Eui-sun—as recipients of the '100th Anniversary Award' on the 18th. Automotive News is an automotive specialized media outlet founded in the U.S. in 1925. It publishes not only in the U.S. but also in European, Chinese, and online editions.
Chairman Chung emphasized 'customers' as essential elements for the future competitiveness of Hyundai Motor Group, stating, "Customer satisfaction is the most important indicator" and that "this customer-centric approach has led to our successes and will continue to guide us going forward." He noted that this mindset was formed thanks to his grandfather, founder Chung Ju-young. Chairman Chung stressed, "The entity that creates the future is the customer, and listening to their voices is our role," a belief of founder Chung Ju-young that remains unchanged for him.
Chairman Chung stated that developing technology with humans, including customers, as a top priority is key to the advancement of mobility. He explained, "Technology that does not meet the actual needs of people is meaningless," adding, "This is why we continuously strive to focus on customers and improve safety, quality, value, and experience at every touchpoint."
Chairman Chung also outlined the direction of the global partnership strategy, stating, "Partnerships are established only when they help us move faster, think bigger, and provide better services to customers. Collaboration is now a necessity rather than a choice." Recently, Hyundai Motor Group has entered into a partnership with General Motors (GM) in the U.S. to jointly develop five new vehicles.
Additionally, regarding changes in trade environments such as automobile tariffs in the U.S., he responded, "We are investing more than $21 billion in areas like manufacturing, supply chains, and steel production in the U.S. based on the belief that we must produce directly where we want to sell."