Hyundai, Toyota to cooperate in motor sports division

The chiefs of Hyundai Motor Group and Toyota Motor Corp. said Sunday the two carmakers will cooperate in the motor sports division in their first public appearance at a racing event. Hyundai Motor Group Executive Chair Euisun Chung and Toyota Motor Chairman Akio Toyoda attended the Hyundai N x Toyota Gazoo Racing event held at Everland Speedway in Yongin, 41 kilometers south of Seoul. Hyundai's high-performance brand N and Toyota's Gazoo Racing, the motorsport division of the Japanese carmaker, jointly held the racing event in Korea. "The companies have agreed to cooperate in high-performance motor sports vehicles," a company spokesperson said over the phone, without giving further details. Samsung Group Chairman Lee Jae-yong also attended the event as the group operates the speedway. Source: Yonhap News Agency