Hyundai Motor Group is exploring opportunities in smart city, mobility and energy businesses at Alatau City, Kazakhstan's largest new-city development project. The group plans to assess the feasibility of future-city projects based on physical AI in Central Asia.
Hyundai Motor Group announced on the 17th that it had signed an agreement with Kazakhstan's private investment firm Caspian Group and financial and investment company United Group Alatau to pursue the Alatau City project. The agreement was signed at the inaugural Korea-Central Asia Business Summit held on the 16th.
Alatau City is a new city being developed across 880 square kilometers north of Almaty, Kazakhstan's largest city. Designated as a national project and a special economic zone under a presidential decree, it is being led by Caspian Group in terms of urban development and local execution, while United Group Alatau is integrating financial and digital ecosystems.
The group will also comprehensively examine potential cooperation in mobility, energy and digital technologies. After conducting a feasibility study, it will gradually establish the project's specific scope and participation plans.
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