Four affiliates of Hyundai Motor Group join the RE100 initiative

Four affiliates of Hyundai Motor Group join the RE100 initiative

Four affiliates of the Hyundai Motor Group, including Kia Corporation, Hyundai Motor Company, Hyundai Wia, and Hyundai Mobis, have reportedly planned to join Climate Group’s RE100.

It is worth noting that RE100 is a global initiative focused on major corporates shifting toward 100% renewable electricity.

Additionally, Hyundai Wia and Hyundai Mobis Co. will become RE100 members. All four entities join over 350 other global companies in the initiative, with plans to expedite efforts on the usage of 100% renewable electricity across its global operations.

While all four affiliates intend to shift to complete renewable energy by 2050, each organization will make separate efforts to attain goals as early as 2040, depending on demand and energy supply conditions at their respective overseas operations.

Under the objective of carbon neutrality, the four companies intend to set a joint RE 100 response system at world sites where they operate commonly.

The Group is considering different methods to produce renewable energy, like power purchase agreements (PPA) with solar and wind energy producers, self-production via solar panels, and purchase through the Green Premium program of Korea Electric Power Corporation (KEPCO).

Other affiliates of the Group have agreed with the necessity to shift to 100% renewable energy and intend to use it actively in their operations in the future.

Hyundai Kefico, Hyundai Transys, Hyundai Capital, Hyundai Partecs, Mocean, and Hyundai NGV will cooperate with Hyundai Motor. The baseball club Kia Tigers will cooperate with Kia. Hyundai IHL, GIT, and HL GreenPower will cooperate with Hyundai Mobis whereas Hyundai Wia Turbo, and Wia Magna Powertrain will cooperate with Hyundai Wia.

The affiliate intends to successfully attain its carbon neutrality objectives by different methods alongside the RE100 initiative. It will develop an eco-friendly smart factory for the acceleration of vehicle electrification, efficient production, and back carbon neutrality in its global supply chain.

Source credit:

https://www.hyundai.com/worldwide/en/company/newsroom/hyundai-motor-group-affiliates-join-climate-group%E2%80%99s-re100%2C-aiming-to-expand-renewables-usage-0000016823?minDate=00000000000&selectedVal=&year=0&searchKey=&type=RES&type=IMG&selection=&pageNo=1&maxDate=20220425091500&rowCount=15&latest=true&listPageUrl=release.all