Hyundai Mobis To Invest $20M in Two US Tech Funds

Hyundai Mobis (KRX:012330), the Seoul, South Korea-based company devoted to securing future car technologies by developing proprietary technologies and investing directly in global leaders, is investing a total of $20m in two US tech funds in Silicon Valley.

Until now, Hyundai Mobis has been investing KRW 1 trillion each year as R&D expenditures, and concentrating on securing proprietary technologies with the Technical Center of Korea and four global R&D centers playing the central role. The company developed the radar sensor, which used to depend entirely on imports, with its own technology in 2018, and independently secured the camera systems for commercial vehicles and the in-cabin sensing technology. Additionally, Hyundai Mobis has been engaging in direct investments in leading companies at home and abroad. Back in 2018, the company invested in StradVision (Korea), a deep-learning-based camera sensor maker. Last year, it invested $50 million in Velodyne, a global leader in lidar technology, and directly invested in the joint venture between Hyundai Motor Group and Aptiv.

Following its development of independent technologies and investments in leading companies, 
Hyundai Mobis invested in global startups, diversifying its investment strategies. The company is planning to foster global startups, which have strengths in future mobility technologies and leverage various collaboration opportunities as part of its mid-to-long-term R&D strategies.

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