HD Hyundai XiteSolution, CNH partner on construction technology
HD Hyundai XiteSolution and CNH Industrial have inked a deal to jointly develop advanced technologies for construction equipment.
The companies signed a memorandum of understanding at CES 2024 on January 10 to collaborate on researching and implementing innovations in areas like automation, digitization and sustainability.
Young-cheul Cho, president and CEO of HD Hyundai XiteSolution, and Stefano Pampalone, president of Construction at CNH Industrial, signed the MOU, joined by Kisun Chung, vice chairman and CEO of HD Hyundai; Cheol-gon Choi, president and CEO of HD Hyundai Construction Equipment; and Scott W. Wine, CEO of CNH.
Under the agreement, HD Hyundai XiteSolution and CNH will establish a joint lab facility focused on smart machine development this year in North America. Specialist teams from both firms will staff the lab to explore new concepts and solutions for the sector.
The partners additionally aim to co-invest in technology startups aligned with their strategic priorities. This can allow them to accelerate the development and deployment of breakthrough innovations.
The move builds on an existing supply partnership, where HD Hyundai Construction Equipment provides mini excavators for CNH’s product lineup.
HD Hyundai XiteSolution has already demonstrated leadership in pioneering autonomous construction machinery and integrated job site automation. The collaboration with CNH ultimately seeks to drive the next phase of transformation in the construction equipment industry.
