Hyundai Motor signs supply deal with Indonesian aluminum producer
SEOUL, Nov. 13 (Yonhap) -- Hyundai Motor Co. said Sunday it has forged a partnership with an Indonesian aluminum supplier as part of efforts to meet the growing demand for the material amid an accelerating industrial transition to electric vehicles (EVs).
The memorandum of understanding with Indonesia-based PT Adaro Minerals Indonesia Tbk is expected to help South Korea's top carmaker secure a stable supply of quality aluminum amid external uncertainties, the company said in a press release.
Adaro Minerals also plans to supply low-carbon aluminum products in the future, helping Hyundai get closer to its carbon neutrality goal, the company added.
Low-carbon aluminum products refer to those that have significantly cut carbon dioxide emissions during their manufacturing process by utilizing sustainable energy sources.
The two companies will continue to seek cooperation in environment-friendly projects, Hyundai Motor said.
colin@yna.co.kr
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