This photo provided by Hyundai AutoEver Corp. on Dec. 16, 2024, shows a recent joint venture agreement signing ceremony between the South Korean firm and Indian digital map company MapmyIndia. (Image courtesy of Yonhap)
SEOUL, Dec. 16 (Korea Bizwire) – Hyundai AutoEver Corp., the information technology affiliate of Hyundai Motor Group, said Monday it has established a joint venture in Indonesia to develop navigation maps for the Southeast Asian country and many others in the region.
The new firm, named Terra Link Technologies, has been jointly established with India’s MapmyIndia, according to the South Korean company. The joint venture will focus on developing high-quality automotive navigation maps for Indonesia, Thailand, Vietnam, the Philippines, Malaysia and Singapore.
Hyundai AutoEver said Southeast Asia is experiencing rapid economic growth accompanied by a sharp rise in vehicle demand, which is driving increased demand for in-vehicle navigation systems.
The company highlighted that road environments in Southeast Asia vary significantly by country, with differences in driving directions and road markings.
“We aim to build high-quality automotive maps to deliver a differentiated experience to consumers and support global automakers in enhancing their competitiveness in the field of navigation,” Seo Dong-kwon, head of the navigation business division at Hyundai AutoEver, said.
(Yonhap)
