ANN/THE KOREA HERALD – Hyundai Motor Co and Mubadala Investment Co, the sovereign wealth fund of the United Arab Emirates (UAE), forged a partnership to advance initiatives in hydrogen energy, sustainable aluminium production, eco-friendly mobility solutions, and advanced air mobility.
The agreement was formalised at a signing ceremony at Abu Dhabi’s Mubadala Tower.
Hyundai Motor’s President and Co-chief executive officer, Chang Jae-hoon and Deputy Group chief executive officer of the Investment Committee at Mubadala Development Co Waleed Al Mokarrab Al Muhairi were present.
The collaboration reflects Mubadala’s commitment to expanding its green portfolio, aligning with similar efforts by other prominent UAE funds, such as the Abu Dhabi Investment Authority and Investment Corporation of Dubai.
The partnership’s key focus areas include hydrogen energy, with emphasis on producing hydrogen from organic waste and utilising it in steel production. “This memorandum of understanding opens doors for synergies between our eco-focused strategies and Mubadala’s diverse investment landscape,” said Hyundai Motor CEO Chang.
