Hyundai begins push into Africa with new collaboration

Hyundai looks really keen to push into new and developing markets.

After establishing a new manufacturing facility in Indonesia in March 2022, the firm is now developing a growth strategy for Africa, and it's doing it with some of the brightest minds around, by establishing specialised units for dialogue and research with the School of Oriental and African Studies at the University of London.

Hyundai's collaboration with the School of Oriental and African Studies at the University of London will lay the groundwork for its long-term business strategies in the continent

Hyundai states that the new collaboration comes as a result of Africa's growing significance and economic potential. The two organisations already have formed a new Development Leadership Dialogue Institute, a forum for discourse between the leaders of the development community, while a new Centre for Sustainable Structural Transformation - a research centre focusing on structural transformation in an age of climate crisis, will also be established under the university.

The new institute will enable leaders from government, business, academia, and civil society to discuss policies and industrialisation plans for developing countries, and aims to build a collaborative foundation for politicians, scholars, and business leaders to exchange their opinions and to forge a common understanding of the roles of various sectors for the social and economic advancement of developing regions, including Africa.

The new Centre for Sustainable Structural Transformation, meanwhile, will suggest strategies for socio-economic development based on sustainable structural transformation of developing countries, especially those in Africa. It will also present vision and specific roles for private sector firms, including the Hyundai Motor Group, and for governments in developing countries in Africa and elsewhere.

Hyundai, meanwhile, will be improving its understanding of African markets and building a foundation for long-term business in the continent with these new organisations. It states that it will additionally participate in research by dispatching Hyundai Motor and Kia employees for research activities, seminars, and workshops, and will interact with relevant organisations within the region with the goal of securing growth for itself while speeding up the industrialisation of African countries.