Hyundai and Toyota successfuly host joint performance vehicle event in South Korea. Event’s success might spawn further cooperation between the two firms in other pursuits.
The CEOs for Hyundai and Toyota had fun and even showed off their driving skills at the event.
Toyota and Hyundai turned heads when the two heated rivals announced that they would host a joint event in South Korea that would help shine a spotlight on the performance vehicle offerings offered by both companies with enthusiasts having the rare opportunity to see Hyundai and Toyota models under one unified roof.
The event proved to be successful and the strong attendance might inspire Hyundai and Toyota to further collaborate on other projects including partnerships on other types of projects.
Performance vehicle event was a surprise for many enthusiasts
The sold out festival had entries from Hyundai and Toyota under one unified roof.
The event in question was called the “Hyundai N X Toyota Gazoo Racing Festival which took place at the Yongin Speedway in South Korea. Hyundai and Toyota are both heated competitors in the World Rally Championship series and the event was made possible as the result of the team up between the two WRC programs. The event was meant to boost South Korea’s motorsports culture and also enhance customer engagement for the two companies. That latter item was a success with the festival selling out shortly after it was announced. Hyundai Motor Group Executive Chair Euisun Chung and Toyota Motor Corporation Chairman Akio Toyoda actively participated in the event. Chung joined Toyoda piloting a Yaris WRC performing Morizo’s signature intense performance driving including donuts in the midst of roaring applause of spectators. After the performance run, the two men walked up on stage together thanking nearby fans, shook hands and shared their thoughts.
“With our high-performance N brand, we’re committed to delivering excitement and satisfying all car enthusiasts. We’ll continue to push forward in motorsport alongside Toyota so that more people can enjoy the thrill of driving,” said Euisun Chung, Executive Chair of Hyundai Motor Group. “When I met with Chairman Akio Toyoda earlier this year, we discovered our mutual passion for racing, and I was delighted that we could hold this event. Chairman Toyoda is someone in the automotive industry that I respect deeply, and it’s an honor to be here with him today,” he added.
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More partnerships might be possible
The success of this festival might inspire other collaborations between Toyota and Hyundai in other ways.
While both companies are treating this event as a rare one-off and neither confirming nor denying that it might lead to future collaborations, there is a chance that the strong success of the festival might encourage the two companies to explore cooperation in other areas. Hyundai and Toyota are actively pursuing EVs and other green vehicles and a possible collaboration between the two companies in terms of technology and electric powertrains might help streamline development and lower costs for both parties.
Another potential avenue is continuing with their existing cooperation in the performance vehicle market. This cooperation could expand further beyond festivals and potentially allow the two firms to share ideas and work together on select performance vehicle projects. It remains to be seen how things will proceed but if the success of this festival is anything to look at, it might be the tip of the iceberg for future collaborative efforts between Toyota and Hyundai.
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