Hyundai Motor Group Signs MoU with Nusantara Capital City Authority to Establish Ecosystem for Advanced Air Mobility

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SEOUL, South Korea, Nov. 14, 2022 /PRNewswire/ -- Hyundai Motor Group (the Group) today signed a Memorandum of Understanding (MoU) with the Nusantara Capital City Authority (Indonesia: Otorita Ibu Kota Nusantara, OIKN) to work together to establish an advanced air mobility (AAM) ecosystem in Indonesia. The MoU was conducted during the B20 summit at Bali Nusa Dua Convention Center, Indonesia.

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Provider:

PR Newswire

Retrieved on:

Monday, November 14, 2022

Information

Tags:

Ecosystem, Movement, AAM, Aviation, Culture, Learning, B20, SEA, Review, Atmosphere, Hyundai Motor Group, Transport, Memorandum of understanding, Airline, Seaweed, Group, Nusantara

Geotags:

DENMARK, FINLAND, GERMANY, NETHERLANDS, SWEDEN, UNITED KINGDOM, INDONESIA, SOUTH KOREA, SEOUL

Organisation:

HYUNDAI MOTOR GROUP

Stock Symbol:

Korea:005380

OTC-PINK:HYMTF

Summary

Key Points:

The Group and local authorities signed to proactively introduce advanced air mobility (AAM) in the new capital city, starting with a demonstration project and test flights
Based on success in the biggest aviation market in Southeast Asia, the Group plans to expand the AAM ecosystem regionally and then globally
SEOUL, South Korea, Nov. 14, 2022 /PRNewswire/ -- Hyundai Motor Group (the Group) today signed a Memorandum of Understanding (MoU) with the Nusantara Capital City Authority (Indonesia: Otorita Ibu Kota Nusantara, OIKN) to work together to establish an advanced air mobility (AAM) ecosystem in Indonesia.
The MoU signing was attended by Jaiwon Shin, President and Head of Hyundai Motor Group's Advanced Air Mobility Division, with Indonesian government officials, including Bambang Susantono, Head of the Nusantara Capital City Authority.
The MoU aims to introduce AAM as part of a smart mobility ecosystem in the new capital city that Indonesia is working to establish.
In addition, there is a movement to actively introduce a smart mobility ecosystem in the process of relocating the capital.

Hyundai Motor Group Signs MoU with Nusantara Capital City Authority to Establish Ecosystem for Advanced Air Mobility

- A First Step to Open Up AAM in ASEAN Market -

President Jaiwon Shin of Hyundai Motor Group and the Head of Nusantra Capital City Authority Bambang Susantono attended the MoU signing ceremony
The Group and local authorities signed to proactively introduce advanced air mobility (AAM) in the new capital city, starting with a demonstration project and test flights
Based on success in the biggest aviation market in Southeast Asia, the Group plans to expand the AAM ecosystem regionally and then globally
The Group commits to bring a better future for Indonesia through AAM

SEOUL, South Korea, Nov. 14, 2022 /PRNewswire/ -- Hyundai Motor Group (the Group) today signed a Memorandum of Understanding (MoU) with the Nusantara Capital City Authority (Indonesia: Otorita Ibu Kota Nusantara, OIKN) to work together to establish an advanced air mobility (AAM) ecosystem in Indonesia. The MoU was conducted during the B20 summit at Bali Nusa Dua Convention Center, Indonesia.

(From left) Jaiwon Shin, President and Head of Hyundai Motor Group’s Advanced Air Mobility Division; Bambang Susantono, Head of the Nusantara Capital City Authority;

The MoU signing was attended by Jaiwon Shin, President and Head of Hyundai Motor Group's Advanced Air Mobility Division, with Indonesian government officials, including Bambang Susantono, Head of the Nusantara Capital City Authority.

The MoU aims to introduce AAM as part of a smart mobility ecosystem in the new capital city that Indonesia is working to establish. The Group plans to develop a roadmap and review the concept of consolidated mobility for ground and air while carrying out an AAM demonstration project and test flights.

"Implementing advanced air mobility in Nusantara is in line with OIKN's spirit of being a 'living laboratory' in Indonesia, open to creating a culture of new learning, working and lifestyle," said Bambang Susantono, Head of the Capital City Nusantara Authority. "We value Hyundai Motor Group's cooperation in developing Nusantara as a smart and sustainable city."

Indonesia, which is the largest aviation market in Southeast Asia, consists of more than 18,000 islands, making it difficult to develop land transportation. In addition, there is a movement to actively introduce a smart mobility ecosystem in the process of relocating the capital.

The Group expects to help improve the mobility of islanders by efficiently building an AAM ecosystem that utilizes Indonesia's high-level aviation infrastructure and technological capabilities.

The Group also plans to build a global AAM ecosystem beyond the SEA region based on its achievements in Indonesia.

More information about Hyundai Motor Group, please see: www.hyundaimotorgroup.com

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