- Four Hyundai Motor Group subsidiaries, including Hyundai Motor Company, Kia Corporation, Hyundai Mobis and Hyundai Wia, will join the RE100 initiatives
- The Group aims to switch to 100% renewable energy between 2040 and 2050
- Other subsidiaries, including Hyundai Transys, Hyundai Kefico and Hyundai Partecs, agree with the purpose and objective of RE100, in line with the Group’s commitment
Hyundai Motor Group (the Group) today announced that four key affiliates, including Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia), are now members of Climate Group’s RE100, a global initiative that engages with large companies in favor of 100% renewable energy. electricity.
In addition, Hyundai Mobis Co. and Hyundai Wia also become members of Climate Group’s RE100. The four affiliates join more than 350 other global companies in the initiative, with plans to accelerate efforts on the use of 100% renewable electricity across its global operations.
While the four companies aim to move to 100% renewable energy by 2050, each will make independent efforts to meet their targets sooner than expected, as early as 2040, depending on supply and demand conditions. demand for energy in their respective overseas operations.
As part of the goal of carbon neutrality, the four companies plan to establish a common RE100 response system at the global sites where they currently operate. The Group is considering different ways of sourcing renewable energy, such as self-generation via solar panels, power purchase agreements (PPAs) with wind and solar power producers, as well as purchasing via the “Green Premium” program of Korea Electric Power Corporation (KEPCO). .
Other group subsidiaries have agreed on the need to switch to 100% renewable energy and plan to actively use it in their operations in the future. Hyundai Transys, Hyundai Kefico, Hyundai Partecs, Hyundai Capital, Hyundai NGV and Mocean will cooperate with Hyundai Motor. The Kia Tigers baseball club will cooperate with Kia. HL GreenPower, Hyundai IHL and GIT will cooperate with Hyundai Mobis. And Wia Magna Powertrain and Hyundai Wia Turbo will cooperate with Hyundai Wia.
The Group plans to successfully achieve its carbon neutrality objective through various means as well as RE100 initiatives. The Group will build an eco-friendly smart factory for efficient production, accelerating vehicle electrification and supporting carbon neutrality in its global supply chain.
RE100 is a global initiative led by The Climate Group and CDP, bringing together the world’s most influential companies committed to 100% renewable electricity, and has been campaigning since 2014. To be a member, a company must have a significant energy footprint (c 100 GWh per year) and are required to submit medium- and long-term renewable energy security plans within one year of joining. More than 350 global companies are members of RE100.