Kolon joins hands with Hyundai Motor and Kia for future mobility materials

▷ Kolon Group signs a strategic partnership agreement with and Hyundai Motor and Kia for future mobility materials business 

▷ This is the first case of Hyundai Motor and Kia investing in a composite materials company, with an investment in new shares issued by Kolon Spaceworks, a subsidiary of Kolon Corporation 

▷ Plans to actively target the future mobility market by expanding technology exchanges in the future 

Kolon Group, a leader in the materials industry, is joining forces with Hyundai Motor Company and Kia Motors to develop future mobility materials and technologies. 

Being the first case of Hyundai Motor and Kia directly investing in a composite materials company for R&D technology cooperation, this is expected to be a win-win opportunity for both companies to secure a leading position in the global mobility market and the advanced composite materials market. 

On the 3rd, Kolon and Hyundai & Kia signed a ‘Strategic Future Mobility Materials Business Partnership’ agreement at the Hyundai / Kia Technology Research Center in Hwaseong, Gyeonggi Province, concerning strategic investment and technical cooperation with Kolon Spaceworks. 

Kolon Spaceworks, a subsidiary of Kolon Corporation is a specialized company in advanced composite materials. Composite materials are ultra-lightweight new materials created by mixing carbon fiber and glass fiber with polymer materials, resulting in a material that is significantly lighter than steel but much stronger. 

Through this agreement, Hyundai and Kia will invest in new shares issued by Kolon Spaceworks and plan to jointly develop mobility materials and technologies. Kolon Spaceworks plans to actively utilize Hyundai and Kia's investment and technical cooperation to focus on developing new parts, materials, and technologies that will lead the mobility industry. 

The two companies have also set common goals to achieve these plans. As a first project, they plan to promote next-generation technologies that can be applied to electric and hydrogen vehicles to accelerate commercialization, such as improving the performance of hydrogen storage container materials and battery covers. In addition, Kolon Spaceworks plans to expand the application of its ultra-high heat-resistant and ultra-high durability materials technology for aerospace and defense to the mobile sector in the future. 

Going further, the two companies plan to secure a virtuous cycle of growth for developing technologies that will lead the future mobility industry through expanded technological exchanges. In the mid- to long-term, they intend to jointly build capabilities for developing composite materials optimized for mobility. 

The partnership is expected to go beyond simple investment and technology exchange, and become a key growth driver for both companies in the mobility sector. Kolon Spaceworks anticipates strengthening its composite material technology capabilities for application in completed vehicles, thereby securing solutions tailored for future mobility. 

Lee Kyu-ho, Vice Chairman of Kolon Group, said, “We hope that Kolon's advanced materials technology and Hyundai Motor and Kia's smart mobility capabilities will combine to enhance the global competitiveness of the national industry.” Yang Hee-won, Head of R&D at Hyundai Motor and Kia, said, “With the paradigm shift in the automotive industry, there is a growing trend toward the expanded use of eco-friendly materials. Through our collaboration with Kolon Spaceworks, we expect to proactively develop various composite materials for vehicles and enhance our business competitiveness through technological innovation.

” Kolon Spaceworks is a company with extensive experience and unrivaled technical capabilities in the field of composite materials, and possesses outstanding technical capabilities not only in structural materials but also in the energy sector. Kolon Spaceworks' flame-retardant UD Tape, developed with its own unique technology, is a high-temperature-resistant composite material that prevents thermal runaway in electric vehicle batteries, thereby improving safety. 

It was applied to the battery housing of Hyundai Motor's Casper electric vehicle as a world first. In addition, a hydrogen storage tank, one of the core components of hydrogen vehicles, has recently obtained R134 certification (high-pressure container product sales qualification) from the United Nations Economic Commission for Europe (UN ECE) for its safety and reliability, thanks to the application of a carbon fiber-based Towpreg and high-speed filament winding technology developed in-house. Kolon Spaceworks' Towpreg is planned to be continuously expanded and applied to various mobility fields as a material for hydrogen storage tanks.