Hyundai Motor Vice Chairman Chung Eui-sun, the son of Hyundai Motor Group Chairman Chung Mong-koo, has solidified his position as a third-generation manager who will be in charge of the carmaker down the road.
He has expanded his outside activities including leading the group’s participation in the CES 2018 that took place in Las Vegas from Jan. 9 through Jan. 12. Under the stewardship of Vice Chairman Chung, Hyundai Motor showed off its eco-friendly car technology prowess by unveiling the fuel cell electric vehicle NEXO at the CES 2018.
At the 2018 CES, Hyundai Mobis focused on exploring business opportunities with overseas partners. Kia Motors succeeded in securing its own brand position by presenting its future mobility vision at the CES. Under its new ‘Boundless for all’ vision, Kia will bring a future in which opportunities for mobility and transportation are limitless.
To broaden horizons with its mobility services, Kia also demonstrated a range of new technologies as part of its new ‘ACE’ strategy to make its cars more Autonomous, Connected and Eco/Electric.
Vice Chairman Chung’s prominent presence at the 2018 CES was designed to look at electronics and IT companies’ trends of convergence in the automobile sector and expand business opportunities with overseas business partners. He participated at the CES for the fourth consecutive year. Vice Chairman Chung has been present at official events without fail in place of his father Chairman Chung since last year.
On the sideline of the 2018 CES, Vice Chairman Chung met with major executives of U.S. chipmaker Nvidia, Intel Corp., Mobileye and self-driving startup Aurora Innovation to discuss future mobility and the next-generation automobile industry.
In particular, he exchanged views on cooperation in self-driving autos with Nvidia’s Jensen Huang for the second time since their meeting last year. Odds are that Hyundai Motor will look to make a self-driving automobile alliance, such as one with Nvidia, Intel and Mobileye.
Hyundai Motor and Genesis cars have already been partly outfitted with self-driving automotive parts produced by Mobileye.
Vice Chairman Chung also discussed ways of promoting cooperation in next-generation cars with CEO Aurora Chris Urmson, and Intel CEO Brian Krzanich.
Vice Chairman Chung made a surprise appearance at a ceremony to unveil the NEXO, which came for the first time in five years since its unveiling of the Tucsan iX fuel cell electric vehicle. Since the late 1990s, Hyundai Motor Group has been developing FCEVs to target the eco-friendly car market in the next 30 years. Automobile business experts predict that annual sales of hydrogen EVs are expected to stand at 30,000 units from next year.
The group, which unveiled the world’s first hydrogen EV in 2013, is accelerating efforts to strengthen its presence in the sector. Hyundai Motor Group aims to sell 30 million NEXO units in the global market annually. Vice Chairman Chung was quoted as saying that even though the demand for hydrogen EVs is unlikely to surge, the market share of the sector is expected to rise. When level 4 self-driving car technologies are in place virtually everywhere by 2025, he said the necessity for hydrogen EVs will be getting higher.