The MOU was signed by Mr. Petr Novotný, CEO and Executive Chairman of Škoda Group, and Mr. Yong-bae Lee, CEO and Chairman of board of directors of Hyundai Rotem. This step signifies both companies’ interest to deepen mutual understanding, explore potential joint business opportunities, and further develop their partnership by leveraging their complementary strengths and expertise.
“The signing of this Memorandum of Understanding with Hyundai Rotem represents a significant milestone in our ongoing efforts to strengthen strategic partnerships and expand our global reach. By joining forces, we can leverage our shared expertise in railway technology and innovation, advancing solutions that meet the growing needs of modern transport systems. This MOU represents a forward-looking approach that paves the way for potential joint projects, while enhancing local manufacturing and fostering the transfer of technology. We look forward to working closely with Hyundai Rotem to explore new opportunities that benefit both our companies, as well as the communities and markets we serve,” commented on the signing Petr Novotný.
The purpose of the MOU is to create a foundation for future cooperation, particularly in identifying and pursuing opportunities in key markets. Areas of potential collaboration include the localisation of production, technology transfer, and participation in significant international railway and infrastructure projects, including the supply of high speed trains. By signing this MOU, both companies confirm their commitment to driving sustainable transport solutions, promoting technological innovation, and contributing to the advancement of global railway infrastructure.
This initiative builds upon an existing partnership between Škoda Group and Hyundai Rotem, which has seen both partners collaborate on advanced railway solutions, including the co-production of locomotives for Tanzania. Škoda Group, has been a key supplier of essential components for these locomotives, contributing innovative technology that forms the heart of their propulsion systems.
