Škoda Group and Hyundai Rotem Strengthen Partnership, Expanding Horizons in Innovative Technologies, this is reported by the railway transport news portal Railway Supply.

Škoda Group and Hyundai Rotem Expand Strategic Partnership in Technology
Photo: Hyundai Rotem

On September 20, 2024, at the Czech-Korean Business Forum in Prague, the companies signed a Memorandum of Understanding outlining directions for joint strategic projects.

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A key part of the agreement is participation in major international infrastructure initiatives, including the supply of high-speed trains.

The companies aim to develop projects based on technology transfer and localization of production.

The document also envisions research and implementation of advanced solutions in hydrogen fuel cells, alternative energy, and hydrogen ecosystems.

This cooperation aims to create environmentally friendly transport of the future, capable of reducing the carbon footprint and enhancing energy efficiency.

The companies have a history of successful collaboration: in 2021, Škoda Transportation signed a contract with Hyundai Rotem to supply electrical equipment for locomotives intended for Tanzania’s railways.

Škoda Group is known for producing a diverse range of transport and components, including trams, metros, electric buses, trolleybuses, and control systems.

Over 10,000 employees work at the company’s facilities in the Czech Republic, Finland, and Turkey. The company is actively expanding in key European markets, with offices in Germany, Italy, Austria, and other countries.

In 2023, Škoda Group’s sales grew by 81%, reaching €1.38 billion.

This rapid development was made possible by participation in the international investment group PPF.

Photo: Hyundai Rotem

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