Seoul: Hyundai Motor Group has signed a memorandum of understanding (MOU) with Michelin Corp. to accelerate their partnership in next-generation tire technology development, extending their ties first established through previous MOUs in 2017 and 2022, the automaker said Tuesday.

According to Yonhap News Agency, under the new three-year MOU, the two companies will seek joint research and development of extreme-low rolling resistance tires with improved fuel efficiency and high-performance tires. They will also focus on upgrading tire performance for premium electric vehicles (EVs) and developing a virtual tire development system for off-road applications. Further development of Michelin's SmartGrip technology will also be pursued.

Hyundai Motor stated that the renewed collaboration is intended to meet the evolving demands of electric and autonomous vehicles, including the need for higher load capacity, robust driving performance, and stronger environmental sustainability. The automaker sees this partnership as crucial in responding to the rapidly changing mobility landscape.

"Through the third phase of technological collaboration with Michelin, we expect to achieve tire technology innovations that will lead the future mobility market," Shin Yong-suk, vice president and head of the Genesis Engineering Design Center at Hyundai Motor Group, said.