Hyundai Motor puts focus on its push for urban air mobility

[Source : Hyundai Motor]

Hyundai Motor Group is focusing on its urban air mobility business, while slowing the pace for its hydrogen operations, in line with the government’s vision to develop 15 key projects for future growth.

According to the automobile industry on Tuesday, the group’s latest executive appointments reflected the change in the direction. While senior vice presidents in the hydrogen division, such as Kim Sae-hoon, stepped down and Kim Changhwan, head of the fuel cell development center, took over the position.

On the other hand, the UAM division kept its executive members while Luc Donckerwolke, chief creative officer of the group and who co-developed the interior concept model of its UAM aircraft, was promoted to president. His appointment will likely put more drive into developing an electric vertical take-off and landing (eVTOL) aircraft. Hyundai targets to commercialize it by 2028. Hyundai’s focus on UAM aligns with the government’s economic policy for next year, prioritizing future-oriented mobility.

Hyundai Motor shares fell 1.9 percent to 155,000 won ($122.08) in the early session on Wednesday.