CNH and HD Hyundai announce joint innovation program for the
construction sector at CES
CNH and HD Hyundai announce joint innovation program for
the construction sector at CES
Las Vegas, January 11, 2024
CNH and HD Hyundai announced a new development
in their longstanding collaboration at the CES Show in Las Vegas,
USA today.
Stefano Pampalone, President Construction at CNH
and Young-Cheul Cho, President and CEO of HD Hyundai XiteSolution
(HDX), the controlling company of HD Hyundai Construction Equipment
and HD Hyundai Infracore, signed a Memorandum of Understanding to
establish a joint research center in the United States.
CNH and HDX possess an extensive background in
construction with unique areas of expertise and strengths. This
strategic collaboration aims to expand upon their existing
capabilities to accelerate the development and investment in
innovative technologies for customers in the construction
industry.
The CE Innovation Lab will be
dedicated to exploring innovation opportunities in the construction
sector. The team, comprised of both CNH and HDX construction
specialists, will study emerging technology trends, map new and
evolving customer needs and identify prospects for portfolio
enhancements and further growth. Their work together will advance
the development and widespread adoption of new technologies, such
as automation and Artificial Intelligence.
Further to this, the parties will mutually
benefit from each other’s distinctive technological capabilities.
HDX will supply CNH with their patented AAVM+ (Advanced Around View
Monitoring Plus) 360-degree camera and radar system delivering
enhanced safety. CNH will supply HDX with Global Navigation
Satellite System technologies through its Hemisphere brand.
In the future, CNH and HDX
anticipate expanding their collaboration within the research center
to encompass the co-development of new technologies and
co-investment in innovative start-ups via their CNH Ventures and HD
Hyundai investment arms.
“We are excited to expand our collaboration with
HDX. This joint effort will strengthen our commitment to growing
CNH’s construction business and position both our companies as tech
authorities in the industry,” said Stefano Pampalone – President,
Construction at CNH.
“It is highly encouraging that our partnership
has extended beyond our product collaboration to include future
technologies, a crucial factor to remain at the forefront of the
construction equipment market. We look forward to working together
even more closely to lead the way in the market.” said Young-Cheul
Cho, President and CEO of HDX and Hyundai Infracore Co., Ltd.
CNH Industrial (NYSE: CNHI) is
a world-class equipment and services company. Driven by its purpose
of Breaking New Ground, which centers on Innovation, Sustainability
and Productivity, the Company provides the strategic direction,
R&D capabilities, and investments that enable the success of
its global and regional Brands. Globally, Case IH
and New Holland supply 360° agriculture
applications from machines to implements and the digital
technologies that enhance them; and CASE and
New Holland Construction Equipment deliver a full
lineup of construction products that make the industry more
productive. The Company’s regionally focused Brands include:
STEYR, for agricultural tractors;
Raven, a leader in digital agriculture, precision
technology and the development of autonomous systems;
Hemisphere, a leading designer and manufacturer of
high-precision satellite-based positioning, and heading
technologies; Flexi-Coil, specializing in tillage
and seeding systems; Miller, manufacturing
application equipment; Kongskilde, providing
tillage, seeding and hay & forage implements; and
Eurocomach, producing a wide range of mini and
midi excavators for the construction sector, including electric
solutions.
Across a history spanning over two centuries,
CNH has always been a pioneer in its sectors and continues to
passionately innovate and drive customer efficiency and success. As
a truly global company, CNH’s 40,000+ employees form part of a
diverse and inclusive workplace, focused on empowering customers to
grow, and build, a better world.
For more information and the latest financial
and sustainability reports visit: cnh.com
For news from CNH and its Brands visit:
media.cnhindustrial.com
About HD Hyundai XiteSolutionHD
Hyundai XiteSolution is the intermediate holding company in the
construction equipment sector of HD Hyundai, one of South Korea’s
largest heavy industries conglomerates engaged in shipbuilding,
heavy equipment, and energy business.
Founded in 2021 and headquartered in South
Korea, HD Hyundai XiteSolution aims to create synergy between its
subsidiaries, HD Hyundai Construction Equipment (HCE) and HD
Hyundai Infracore (HDI), major machine manufacturing companies with
a leading position in construction equipment, engines, attachments,
utility equipment and more. The two subsidiaries operate under its
respective brands, Hyundai and DEVELON. While HCE and HDI each
operate independently, HD Hyundai XiteSolution seeks to maximize
the synergy between the two in R&D, purchasing, sales and
international business.
Alongside providing optimized solutions that
propel synergy, HD Hyundai XiteSolution also targets to shape and
solidify its own industrial vehicle and hydraulic component
business by achieving ten trillion won in sales by 2025, becoming a
global top five company in the field of construction machinery, and
realizing its vision to create a blueprint for the future of the
construction equipment industry in Korea.
To learn more, visit:
https://www.hd-xitesolution.com/?locale=en
Contacts:
CNH Media
Relations Email:
mediarelations@cnhind.com
HDX Media Relations Billie
LeeEmail: billie.lee@hd.com
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actual results or developments may differ materially from any
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could cause actual results to differ materially from those
contemplated by the forward-looking statements include, among
others: economic conditions in each of our markets, including the
significant uncertainty caused by the war in the Ukraine; the
duration and economic, operational and financial impacts of the
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including industry capacity constraints, material availability, and
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factors that affect consumer confidence and worldwide demand for
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development; government policies on international trade and
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prices for agricultural commodities and material price increases;
housing starts and other construction activity; our ability to
obtain financing or to refinance existing debt; price pressure on
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political and civil unrest; volatility and deterioration of capital
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the foregoing.
Forward-looking statements are based upon
assumptions relating to the factors described in this press
release, which are sometimes based upon estimates and data received
from third parties. Such estimates and data are often revised.
Actual results may differ materially from the forward- looking
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of which are outside CNH Industrial’s control. CNH Industrial
expressly disclaims any intention or obligation to provide, update
or revise any forward-looking statements in this announcement to
reflect any change in expectations or any change in events,
conditions or circumstances on which these forward-looking
statements are based. Further information concerning CNH
Industrial, including factors that potentially could materially
affect CNH Industrial’s financial results, is included in CNH
Industrial’s reports and filings with the U.S. Securities and
Exchange Commission (“SEC”).
All future written and oral forward-looking
statements by CNH Industrial or persons acting on the behalf of CNH
Industrial are expressly qualified in their entirety by the
cautionary statements contained herein or referred to above.
- 20240111_PR_CNH_Industrial_HDX
- CNH and HD Hyundai executives at CES
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