Hyundai Motor to invest $13 billion in software, connect 20 million vehicles

SEOUL, Oct. 14 (UPI) — South Korea’s Hyundai Motor announced Thursday that it will work on connecting a total of 20 million vehicles by 2025 to a software platform that would allow more personalized services to the drivers.

Hyundai Motor said that it plans to invest $13 billion through 2030 in its global software center. File Photo by Peter Foley/UPI © Peter Foley/UPI Hyundai Motor said that it plans to invest $13 billion through 2030 in its global software center. File Photo by Peter Foley/UPI

The Seoul-based company said that it plans to invest $13 billion through 2030 in its global software center in order to strengthen the know-how in software-defined vehicles.

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The plan was revealed during the company’s “Unlock the Software Age” global online forum.

Hyundai also said that connected cars equipped with cutting-edge telecommunications features would lead to the creation of new services, including software subscriptions.

In addition the new software platform, made up of vast amounts of connected car data, would enable the automaker to provide innovative services throughout the car’s life cycle, according to Hyundai.

“The connected car data and the new data platform could lead to the creation of an open ecosystem with partners from diverse industries such as logistics and accommodation,” a Hyundai official said.

While no mention of the software platform’s specific offerings was made, Hyundai president Park Chung-kook said that the company would completely redefine the definition of what an automobile is and would work to usher in a new era of mobility.

“Creating visionary vehicles, empowered with the ability to evolve through software, will enable customers to keep their cars up to date with the latest features and technology even long after they’ve left the factory floor,” Park told the forum.

Industry watchers point out that other global automakers are marching in the similar direction as Hyundai Motor.

“If an automaker wants to move from the brick-and-mortar model to the future, to mobility business, it has to become a software-centric outfit,” Daelim University automotive professor Kim Pil-soo told UPI News Korea.

“In the future, even recalls will be about software. Seen in that light, Hyundai seems to be moving in the right direction by focusing on the software development side,” he said.

 

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