Škoda and Hyundai Rotem Collaborate on Future Rail Solutions

This agreement was formalised during the Czechia-Korea Business Forum in Prague, marking a foundation for strategic collaborations in technology transfer and innovation. The two companies aim to explore joint business ventures, combining their expertise in railway technology.

Petr Novotný, CEO and Executive Chairman of Škoda Group, stated: “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 MoU outlines key areas for collaboration:

• Localisation of production and technology transfer
• Participation in international railway infrastructure projects
• Development and supply of high-speed trains

This MoU strengthens the existing relationship between Škoda Group and Hyundai Rotem, who have previously collaborated on locomotive projects for Tanzania.