President of Uzbekistan Shavkat Mirziyoyev held a meeting in Seoul with representatives of Hyundai Motor Group. The negotiations included Kim Seong, President of Strategy for Hyundai Motor Group; Cho Sang-moon, Senior Vice President of Kia Motors; and Lee Young-bae, Chairman of the Board of Directors of Hyundai Rotem.
The parties discussed the possibility of expanding cooperation in the field of transport and the automotive industry, according to the press service of the President of Uzbekistan. The participants highly appreciated the contribution of the group's companies to the development of relevant sectors in Uzbekistan.
Expansion of Production and Localization
During the meeting, discussions focused on increasing production capacities in the automotive cluster located in the Jizzakh region, as well as increasing the share of localization of automotive components. Special attention was paid to launching full-cycle Kia vehicle production in Uzbekistan and developing export directions.
Furthermore, the parties considered the prospects of launching new models, building a stamping plant, and the possibilities of organizing the production of electric and hybrid vehicles.
Development of Railway Transport
It was noted that the first high-speed trains from Hyundai Rotem have already begun operating on the Tashkent–Khiva route, halving the travel time. The possibility of receiving additional train supplies from this company was also discussed.
In addition, the parties emphasized the importance of establishing a Hyundai Rotem service center in Uzbekistan and further localizing component production. Prospects for organizing the production of magnets for electric motors were also considered.