Tuesday, 22 October 2019 02:31

Hyundai investment in mobility tech speeds up self-driving vehicle commercialisation: analyst Featured

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Hyundai investment in mobility tech speeds up self-driving vehicle commercialisation: analyst Image powerbee, FreeDigitalPhotos.net

Hyundai’s plan to invest US$35 billion on mobility tech will accelerate commercialisation of self-driving vehicles, according to analytics firm GlobalData.

Animesh Kumar, Director of Automotive Consulting at GlobalData, says Hyundai’s investment in new automotive technologies place the company among the top companies in the automotive industry, such as Volkswagen (VW) and Toyota, in terms of investments in future technologies.

“Hyundai has been regularly and aggressively investing in new automotive technologies. The South Korean automotive giant recently entered into a joint venture with an autonomous driving tech company Aptiv for the development and commercialisation of L4 and L5 self-driving vehicles,” said Kumar.

“Hyundai has already invested in US-based startup Aurora Innovation Inc to co-develop a self-driving fuel-cell vehicle. The company is also investing in shared mobility players such as Grab, Ola and Revv in key markets and plans to supply electric and self-driving vehicles to shared mobility service providers.

“Though several such investments and partnerships may appear to be for shared mobility but majority of them encompass two or more components of Connected, Autonomous, Shared, Electric (CASE).

“The developments fit into GlobalData’s hypotheses that in the long-term, cars will cease to remain a product and would become a service. They also indicate that auto manufacturers across the globe are increasingly looking at new avenues and technologies for long-term growth and to hedge against an uncertain future.

“However, Hyundai needs to be prudent as the development of self-driving vehicles involves risks in terms of high costs for acquiring technologies, and safety and regulatory concerns around the use of self-driving vehicles on public roads,” Kumar cautioned.

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Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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