[THE INVESTOR] Hyundai Motor, the nation’s largest carmaker, on Nov. 15 announced it will tie up with French tire manufacturer Michelin for future electric vehicles.
The agreement was signed between Hyundai Motor Vice Chairman Yang Woong-chul and Michelin COO Florent Menegaux at the French firm’s research and development center in Clermont-Ferrand.
The two companies will jointly develop all-season tires that will be equipped in Hyundai’s next-generation EVs that will roll out after 2020, including the new luxury Genesis G80 model. Hyundai expects the new tire development will rev up the performance of EVs, including the driving range and fuel efficiency.
Hyundai Motor Vice Chairman Yang Woong-chul (left) and Michelin COO Florent Menegaux
“Through this collaboration, Hyundai will be able to share technology and know-how with one of the world’s leading tire makers,” the carmaker said. “We will develop optimized tires for EVs in the future through active exchange of human resources and technology co-development.”
As a part of the deal, Hyundai will gain access to Michelin’s tire-making expertise such as R&D, while Michelin developers will attain car development information from Hyundai.
The local carmaker has been ramping up efforts to expand its green car lineup in an attempt to catch up with global rivals in the EV industry and nurture new growth engines. Hyundai Motor is planning to roll out 31 eco-friendly vehicles by 2020 that include 10 hybrid cars, 11 PHEVs, eight pure EVs and two FCEVs.
Hyundai plans to launch a long-range EV of its luxury marque Genesis in 2021, as well as another long-range EV with a range that tops 500 kilometers.
By Ahn Sung-mi (firstname.lastname@example.org)