PROJECT PASCAL FORUM

 

Exploring Technological Innovation and Sustainability at HMGICS

Mr. Min Won Byun, Head of Business Cooperation

Mr. Wee Tak Hoo, Digital Transformation Leader

Host: Taeyoung Kang

Organized by Project Pascal

Pascal Panel: Sashil Anand, Terrence Lim, Kushagra Kesarwani

 

Sustainability and Innovation Ecosystem of Hyundai Motors Group

 

Shared growth with Singapore

Singapore’s mobility sector is set to experience a significant boost with the establishment of the Hyundai Motor Group Innovation Centre Singapore (HMGICS). Supported by Singapore’s supportive policies, HMGICS aims to nurture local talent, incubate future businesses, and foster collaborations with research institutions and universities through an open innovation ecosystem. This knowledge-sharing will boost HMGICS’ role as an R&D facility for developing diverse future-oriented business models and sustainable production solutions for EVs and smart mobility.

In collaboration with Nanyang Technological University, Singapore (NTU Singapore) and the Agency of Science, Technology and Research (A*STAR) – a statutory board under Singapore’s Ministry of Trade and Industry –, HMGICS is set to create the first tripartite ‘Corporate Lab’ in Singapore. This Lab will accelerate innovations and adoption of new technologies, shaping a collaborative future mobility ecosystem in Singapore.

Moreover, partnerships forged with the Singapore Business Federation (SBF) and Singapore Manufacturing Federation (SMF) will enable co-development of advanced manufacturing solutions, giving Singapore’s mobility industry a unique edge in the global automotive landscape.

Furthermore, an MOU with PTC Logistics, Singapore’s largest logistics service provider, will establish a renewable hydrogen energy ecosystem in Singapore. This aligns with Singapore’s National Hydrogen Strategy, aiming to achieve 50 percent hydrogen usage in nationwide power supply by 2050.

The opening of HMGICS saw the signing of multiple MOUs, reflecting Hyundai Motor Group’s commitment to growing alongside Singapore. These initiatives underscore the Group’s dedication to innovation and collaboration in shaping the future of mobility production.

 

“Hyundai Motor Group is leading the mobility paradigm shift, but we are determined to deliver even greater levels of innovation. HMGICS will enable us to shape the future of mobility production, and indeed, the manufacturing industry, in collaboration with the culture of open innovation and forward-looking policies that Singapore is renowned for globally.”

Hong Bum Jung

Senior Vice President and CEO of HMGICS

 

The ability of HMGICS to transform manufacturing and customer experience reinforces Hyundai Motor Group’s strategic vision, which it shares with Singapore, to progress onwards at pace with the creation of world-leading, innovative, sustainable mobility solutions for the benefit of all.

 

“The ideas and products created here are innovated in Singapore, not just made in Singapore. Most importantly, HMGICS is an innovation facility centered on R&D. Grounded on Singapore’s future-oriented policies and infrastructure, we will act as a global incubator for Singapore’s talents and businesses through our Corporate Lab Program.”

Jay Chang

President and CEO Hyundai Motor Company

 

“Hyundai is a strategic partner in our effort to address future mobility needs through innovation and advanced manufacturing technologies. The Hyundai Motor Group Innovation Centre will introduce important new capabilities in areas such as electric vehicles and urban air mobility, and create new opportunities for Singaporeans. This will complement the vibrant base of companies that are involved in the development of autonomous driving and electrification technologies,”

 Dr. Beh Swan Gin

 Chairman, Singapore Economic Development Board (EDB)

 

“Jurong Innovation District is shaping up well as a top-tier innovation ecosystem, with many top multinational giants joining in recent years. We will continue to bring together the best in advanced manufacturing and change the way all stakeholders collaborate to build the future of this industry. The Hyundai Motor Group Innovation Centre will further strengthen the District’s position as an advanced manufacturing hub that is home to state-of-the-art Factories of the Future.”

 Mr. Tan Boon Khai

 CEO, JTC

 

 

Pascal Thoughts on Sustainability and Innovation Ecosystems

 

“Sustainability and innovation ecosystems enable the development and implementation of solutions that address complex sustainability challenges while promoting economic growth and social well-being. In such an ecosystem, fostering partnerships with various stakeholders is crucial and there is great emphasis on diversity in future-oriented business models. It is to build an urban mobility hub that produces impactful products by prioritizing the needs of marginalized communities and designing solutions that are accessible to all. This will lead to more equitable and sustainable cities.”

Sashil Anand

 

“The concept of an open innovation ecosystem resonated deeply with me. I believe that fostering a culture of collaboration and knowledge-sharing is essential for driving sustainable innovation.”

Kushagra Kesarwani

 

“I believe whether it’s advancements in renewable energy, carbon capture, or sustainable materials, leveraging the power of science and technology is key to creating a more sustainable future.”

 Terrence Lim