Hyundai Motor Company and Oak Ridge National Laboratory have signed an agreement intended to strengthen the automaker’s U.S. research and development, or R&D, portfolio.
Hyundai Motor Company and its affiliate Kia Motors Corporation will be identifying and providing R&D needs of the automotive industry, providing feedback and evaluation technology concepts, consulting with ORNL on R&D topics related to the industry, and developing potential Hyundai-sponsored projects to be carried out under separate, legally binding agreements, a press release said.
As the world’s fifth largest automaker, Hyundai Motor Company employs more than 30,000 workers in the United States, and more than 700,000 Hyundai and Kia vehicles are made in the U.S.
Through this agreement, Hyundai Motor and UT-Battelle, which manages ORNL for the U.S. Department of Energy, will also work to identify R&D funding opportunities of mutual interest and coordinate meetings to exchange information, the press release said. Hyundai sees ORNL as providing significant expertise in diverse areas. [Read more…]