Hyundai Motor supports 110 vehicles for Asian Infrastructure Investment Bank confab

Hyundai Motor, a global leading automaker, supported the Second Annual Conference of the Asian Infrastructure Investment Bank (AIIB) recently held in the resort island of Jeju by providing 110 transport vehicles.

Prior to the annual meeting of the AIIB board of governors held on June 16~18, 2017 at the International Convention Center in Jeju, Hyundai Motor delivered 110 vehicles, including 100 ‘Ioniq’ electric vehicles (EVs) and 10 ‘Starex’ vans, on June 14 to the organizing committee for the AIIB annual meeting. The vehicle offering ceremony was attended by a number of officials and executives including Yun Tae-sik, Director General of the preparation planning office for the AIIB annual meeting, and Pak Gwang-sik, Vice President of Hyundai Motor.

These vehicles were used for transporting ministerial-level officials from participating countries during the three-day conference held under the theme of ‘Sustainable Infrastructure’. The conference was attended by some 2,000 officials and businessmen from 77 countries, including finance ministers and heads of central banks.

Founded in January 2016 initiated by China, the AIIB is a multinational organization aimed at spurring Asia's economic growth through infrastructure investment. Having invested KRW4.1 trillion (approx. $3.6 billion) (ownership percentage of 3.8%), Korea is the fifth-largest stakeholder in the AIIB after China, India, Russia and Germany. During the past one year since its launch, the AIIB provided loans to 13 projects in the region in total amount of $2.18 billion.

Given that the annual conference of the AIIB this year discussed the issue of green infrastructure, Hyundai Motor expects the provision of its ‘Ioniq’ electric vehicles gave it a chance to promote the excellent quality and performance of its eco-friendly vehicles to participants in the conference.

“It is very significant to provide vehicles to such a meaningful event of discussing ways of helping growth of developing countries and building sustainable infrastructure. We will actively cooperate for successful operation of the second AIIB annual conference,” said Pak Gwang-sik, Vice President of Hyundai Motor, at the vehicle delivery ceremony.

Earlier, Hyundai Motor had provided substantial number of vehicles to several major international events including the FIFA U-20 World Cup Korea 2017 held in May.

In March 2016, Hyundai Motor unveiled the EV version of its ‘Ioniq’ model that can run up to 190 kilometers on a single charge as part of efforts to tap into the green car segment. The hybrid version of ‘Ioniq’ was launched in January last year.