Four key Hyundai Motor Group affiliate companies—Hyundai Motor Company (Hyundai Motor), Kia Corporation (Kia), Hyundai Mobis, and Hyundai Wia—are now members of Climate Group’s RE100, a global initiative committed to large corporates moving toward 100% renewable electricity.
All four affiliates join more than 350 other global firms in the initiative, with plans to accelerate efforts on the use of 100% renewable electricity throughout global operations.
While all four companies aim to transition to 100% renewable energy by 2050, each will make independent efforts to achieve targets ahead of schedule, by as early as 2040, depending on energy supply and demand conditions at their respective overseas operations.
Under the goal of carbon neutrality, the four companies plan to establish a joint RE100 response system at global sites where they operate in common. The Group is considering various ways to procure renewable energy, such as self-production through solar panels, power purchase agreements (PPA) with wind and solar energy producers, as well as purchase through Korea Electric Power Corporation’s (KEPCO) ‘Green Premium’ program.
Other Group affiliates have agreed with the need to transition to 100% renewable energy and plan to use it actively at their operations going forward. Hyundai Transys, Hyundai Kefico, Hyundai Partecs, Hyundai Capital, Hyundai NGV and Mocean will cooperate with Hyundai Motor. 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 goal by various ways as well as RE100 initiatives. The Group will build an eco-friendly smart factory for efficient production, acceleration of vehicle electrification, and support carbon neutrality in its global supply chain.
To be a member of RE100, a company must have a significant power footprint (i.e., 100 GWh annually) and is required to submit mid- to long-term renewable energy power securing plans within a year after joining.
GM, the BMW Group and Tata Motors are also RE100 members.