Škoda Group and Hyundai Rotem have signed a Memorandum of Understanding (MoU) to collaborate on the development of future railway solutions.
This agreement was signed during the Czechia-Korea Business Forum in Prague. The MoU sets the stage for future strategic collaborations focused on innovation and technology transfer.
The two companies aim to explore joint business opportunities and leverage their combined expertise in railway technology.
“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.”
The M0U outlines key areas for potential collaboration:
- Localisation of production and technology transfer
- Participation in international railway infrastructure projects
- Development and supply of high-speed trains
This MoU strengthens an existing relationship between Škoda Group and Hyundai Rotem, which have previously collaborated on locomotive projects for Tanzania.
