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Hyundai Motor Targets Israel’s Most Innovative Start-ups with Extensive Investment

  • Hyundai Motor focuses on ‘Disruptive Innovation’ to accelerate next-generation automotive technologies
  • Dedicated Israel ‘Open Innovation Center’ will coordinate investment and brand artistic start-up businesses for RD cooperation
  • Israel operation will work with a newly-formed HTK Consortium for destiny mobility research
  • Hyundai Motor aims to turn ‘market shaper’ by heading intelligent mobility

SEOUL, Korea,  Nov. 1, 2017 –
Hyundai Motor has summarized skeleton to deposit extensively in distinguished Israeli start-ups to accelerate developments in modernized destiny automotive technologies. Moving a business toward a Fourth Industrial Revolution, a new investment bureau in Israel will lead a operation and brand newly determined businesses that concentration on ‘Disruptive Innovations’, including synthetic intelligence, unconstrained driving, and cyber security.

Hyundai Motor announced a prophesy during a 2017 Fuel Choices and Smart Mobility Summit in Israel, detailing a expectancy for synergies with a newly-launched HTK Consortium for Future Mobility Research. The Korean automobile builder recently entered into a chit of bargain with Technion – Israel Institute of Technology, and Korea Advanced Institute of Science and Technology (KAIST) – to control corner RD projects globally, around destiny mobility technologies.

Furthermore, Hyundai Motor determined a Strategy Technology Division in Feb to benefit new movement for destiny technological innovation. The multiplication oversees a company’s investigate in destiny record from AI, modernized materials, energy, and robotics, to a subsequent era of information communication technologies. The classification mostly is stoical of dual divisions; one with engineers in assign of RD and one with strategists devising business models formed on a new technologies.

“Hyundai Motor is really meddlesome in Israel’s ecosystem of record innovation, generally in a zone of transportation. This is because we recently sealed an MOU with Technion, one of a world’s tip scholarship and record investigate universities,” pronounced Dr. Young Cho Chi, Executive Vice President of Strategy Technology Division and Chief Innovation Officer of Hyundai Motor Group. “Our new investment core will concede us to work some-more closely with a many innovative new businesses and lead a attention in new and artistic intelligent mobility.”

The proclamation was done during a assembly with Mr. Eli Cohen, Israel Minister of Economy and Trade. He said, “We acquire Hyundai Motor Group’s preference to open an investment bureau in Israel called Open Innovation Center. This decision, done by one of a biggest automotive companies in a world, is serve explanation of a peculiarity of Israeli creation and a good mercantile ties between Korea and Israel.”

Open Innovation Center summarized a 3 pillars of investment that will concede them to accelerate developments in modernized destiny technologies:

  • Ignite Up: Finding Potential

The initial theatre of a module will see a Israel investment core brand distinguished start-ups with artistic ideas that are operative to rise innovative technology. This follows a instance of a HTK Consortium, that acts as a overpass between Hyundai Motor and rising companies, to control corner RD projects.

  • Rev Up: Investment and Development

The second theatre will see investment done in heading start-ups that denote a biggest intensity and creativity. The investment includes both approach and surreptitious investment, and leads to commercialization.

  • Team Up: Strengthening Partnership

Hyundai Motor will work in tighten partnership with start-ups as it establishes a Group’s Open Innovation Center in Israel subsequent year. This trickery will also build clever relations with internal colleges and companies, with a mid- to long-term devise to settle it as a tellurian RD center, to rise synthetic comprehension or destiny mobility.

Through a investment in start-ups and a HTK Consortium for Future Mobility Research, Hyundai Motor and a compared globally-renowned institutes will work together to respond fast and effectively to a tellurian automotive industry’s fast changing needs.

Hyundai Motor Group has a track-record of regulating start-ups in a projects. Last year, start-ups with applicable technologies were invited to minister to a Hyundai Motor and Cisco corner plan for connected automobile record development.


About Hyundai Motor

Established in 1967, Hyundai Motor Company is committed to apropos a lifetime partner in automobiles and beyond. The association leads a Hyundai Motor Group, an innovative business structure able of present resources from fiery iron to finished cars. Hyundai Motor has production bases in 8 countries as good as a tellurian network of 8 technical centers and 4 pattern centers. Hyundai Motor Hyundai Motor sole 4.86 million vehicles globally in 2016 and employs some-more than 110,000 employees worldwide. The association continues to raise a product choice with localized models and strives to strengthen a care in purify technology, starting with a world’s initial mass-produced hydrogen-powered vehicle, ix35 Fuel Cell and IONIQ, a world’s initial indication with 3 electrified powertrains in a singular physique type.

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