Hyundai Motor Co. and Kia Corp. are investing 20 billion won ($13.7 million) in Kolon Spaceworks Co. to strengthen their foothold in future mobility materials.

On Monday, the automakers signed a strategic partnership with Kolon Group at Hyundai Motor’s research and development (R&D) center in Hwaseong, Gyeonggi Province. The signing ceremony was attended by Hyundai Motor President Yang Hee-won and Kolon Group Vice Chairman Lee Kyu-ho.

Under the partnership, Hyundai and Kia will acquire newly issued shares in Kolon Spaceworks, securing a combined 11 percent stake to become its second-largest shareholder after Kolon Corp., which retains 89 percent. Hyundai will hold 6.6 percent, and Kia 4.4 percent. This marks the automakers’ first direct investment in a composite materials company.

“The shift in the automotive industry is driving greater adoption of eco-friendly materials,” Yang said. “Through our partnership with Kolon Spaceworks, we aim to develop advanced composite materials and enhance competitiveness through technological innovation.” Lee also expressed hopes that the collaboration would strengthen Korea’s global industrial standing.

The first joint project will focus on improving materials for hydrogen storage containers and battery covers, with applications for electric and hydrogen vehicles. The companies also plan to address global environmental regulations, such as the European Union’s End-of-Life Vehicles (ELV) directive.

Hyundai and Kolon Spaceworks will also refine paint-free composite molding technology, currently used in Hyundai’s electrification business platform, ST1. Kia is considering adopting the technology for future models.

The companies plan to expand technology exchanges to build a sustainable growth model. They aim to develop mobility-optimized composite materials and strengthen Kolon Spaceworks’ capability to provide specialized solutions for future mobility.

Kolon Spaceworks, wholly owned by Kolon Corp., specializes in ultra-lightweight materials combining carbon and glass fibers with polymer resins - stronger than steel yet lighter than aluminum. These materials are used in electric and hydrogen vehicles, aerospace, guided weaponry, and submarines.

One of Kolon Spaceworks’ key innovations is flame-retardant unidirectional (UD) tape, which prevents thermal runaway in EV batteries. The material has been applied to Hyundai’s Casper EV battery.

Kolon Group has been accelerating its future portfolio strategy under Lee, who took charge of the strategic division of the group’s holding company in late 2023.

[ⓒ 매일경제 & mk.co.kr, 무단 전재, 재배포 및 AI학습 이용 금지]