STOCK TITAN

Hyundai Breaks Ground on New Safety Test and Investigation Laboratory

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Hyundai Motor America has announced a significant investment of $51.6 million in a new Safety Test and Investigation Laboratory (STIL) in Superior Township, Michigan. The facility, expected to be operational by fall 2023, will support 160 jobs and enhance Hyundai's safety testing capabilities. This investment exceeds the $25 million mandated by a 2020 Consent Order, showcasing Hyundai's commitment to safety and innovation. The new laboratory will feature advanced testing environments, reinforcing Hyundai's focus on improving vehicle safety and reducing traffic fatalities.

Positive
  • Investment of $51.6 million bolstering safety initiatives.
  • Creation of 160 jobs in Michigan.
  • Expansion of testing capabilities with advanced facilities.
  • Surpassing 2020 Consent Order requirements by over $26 million.
Negative
  • None.
  • Hyundai Invests More Than $51 Million in Michigan Safety Laboratory Site

SUPERIOR TWP., Mich., June 27, 2022 /PRNewswire/ -- Hyundai Motor America and Hyundai America Technical Center, Inc., (HATCI) together celebrated the $51.6 million expansion project for a new Safety Test and Investigation Laboratory (STIL) at a recent groundbreaking ceremony. The ceremony highlighted the benefits of the new safety laboratory and included remarks from José Muñoz, president and chief operating officer, Hyundai Motor Company and president and chief executive officer, Hyundai and Genesis Motor North America and Hyundai Motor America. Brian Latouf, chief safety officer, Hyundai Motor North America, and John Robb, president, HATCI, as well as local and government officials including Congresswoman Debbie Dingell and Lieutenant Governor Garlin Gilchrist II also participated in the event. The STIL is planned to be operational in the fall of 2023 and will be supported by 160 employees.

"Safety is the top priority at Hyundai and is embedded throughout the entire organization," said José Muñoz, president and chief operating officer, Hyundai Motor Company and president and chief executive officer, Hyundai and Genesis Motor North America and Hyundai Motor America. "We excel in third-party crash testing and ratings, and we strive to be a leader in equipping our vehicles with the latest safety features. The new laboratory will enable us to even more effectively protect our customers and enhance our world-class safety organization."

The new facility will further augment Hyundai's existing safety testing and analysis. It will feature a field crash investigation lab, high voltage battery lab, forensics lab, 500m track and a Vehicle Dynamics Area pad. IBI Group and BCCG have been selected for the architectural design and construction of the building expansion. The investment is focused on enhancing Hyundai's safety commitment in identifying vehicle field issues, preventing crashes and keeping passengers safe.

"This investment by Hyundai is critically important not only to Southeast Michigan, but to our entire country," said Congresswoman Debbie Dingell (MI-12). "Traffic fatalities are at an all-time high in our nation, and each of us from elected officials to auto makers have a role to play in addressing this urgent, preventable crisis. This new Safety Test and Investigation Laboratory will save lives, and I applaud Hyundai for their commitment to keeping passengers safe."

"Hyundai's cutting-edge Safety Test and Investigation Laboratory will create good-paying, high-skilled jobs right here in Michigan," said Lt. Governor Garlin Gilchrist II. "Michigan put the world on wheels, and I am grateful for Hyundai's partnership in building on that tradition with a $50 million investment in Superior Township. Since entering office, Governor Whitmer and I have added nearly 25,000 good-paying auto jobs, and we will continue working hard to maintain Michigan's leadership in future mobility, grow our economy, upskill Michigan's workforce, and stand tall for Michigan."

Hyundai recognizes the value and importance of enhancing its hands-on safety evaluation processes. The STIL was developed in collaboration with the National Highway Traffic and Safety Administration (NHTSA) based on a 2020 Consent Order which required an investment in a safety facility of $25 million. Hyundai increased its required investment by more than $26 million.

Hyundai also reminds drivers and passengers to always wear safety belts, use appropriate child seats and focus on the drive.

Hyundai America Technical Center, Inc.

As one of Hyundai Motor Group's (HMG) six centers focused on research and development (R&D), Hyundai America Technical Center, Inc. (HATCI) was established in 1986 in Ann Arbor, Michigan. HATCI is HMG's design, technology and engineering division for North America. As HMG has solidified its position as one of the top five global OEMs, HATCI has grown to include a strong network of engineering disciplines and increased business-focused activities to support North America's Voice of the Customer. For more information, visit http://www.hatci.com/.

Hyundai Motor America

Hyundai Motor America focuses on 'Progress for Humanity' and smart mobility solutions. Hyundai offers U.S. consumers a technology-rich lineup of cars, SUVs and electrified vehicles. Our 820 dealers sold more than 738,000 vehicles in the U.S. in 2021, and nearly half were built at Hyundai Motor Manufacturing Alabama. For more information, visit www.HyundaiNews.com

Hyundai Motor America on Twitter | YouTube | Facebook | Instagram | LinkedIn

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/hyundai-breaks-ground-on-new-safety-test-and-investigation-laboratory-301576214.html

SOURCE Hyundai Motor America

FAQ

What is the purpose of Hyundai's $51.6 million investment in Michigan?

The investment is aimed at establishing a new Safety Test and Investigation Laboratory (STIL) to enhance safety testing and analysis.

When will Hyundai's new safety laboratory in Michigan become operational?

The new laboratory is planned to be operational in the fall of 2023.

How many jobs will Hyundai's new safety laboratory create?

The new facility will support approximately 160 jobs.

What features will Hyundai's Safety Test and Investigation Laboratory include?

The laboratory will feature a crash investigation lab, high voltage battery lab, forensics lab, a 500m track, and a Vehicle Dynamics Area pad.

How does Hyundai's investment relate to safety improvements in vehicles?

The investment reflects Hyundai's commitment to enhancing safety in vehicles by improving testing capabilities and addressing field issues effectively.

HYUNDAI MOTOR REG S

OTC:HYMTF

HYMTF Rankings

HYMTF Latest News

HYMTF Stock Data

36.42B
43.85M
0.13%
Auto Manufacturers
Consumer Cyclical
Link
United States of America
Seoul