SEOUL, Nov. 2 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will work with Israeli engineers to develop cutting-edge mobility technologies as demand for next-generation vehicles is on the rise.
The Korean carmaker will explore Israeli startups that have expertise in such areas as artificial intelligence, sensor fusion and cybersecurity for investment and joint development, Hyundai Motor said in a statement.
To seek such a partnership with local firms, Hyundai Motor will establish the Open Innovation Center in Israel early next year, the company said.
South Korea’s largest carmaker by sales announced its partner program with Israel at the 2017 Fuel Choices and Smart Mobility Summit, an annual event presided over by the Israeli government, held in the Middle East country from Tuesday to Wednesday.
In September, Hyundai Motor signed a partnership with Israel’s biggest science and engineering university TECHNION, and South Korea’s public research university KAIST for joint studies in next-generation mobility technologies.
Hyundai is seeking partnerships in Israel as the carmaker strives to secure a future growth driver amid changing customer demands in the automobile markets where carmakers are putting a bigger focus on emission-free and autonomous vehicles.
Related to the drive to expand its presence abroad, Hyundai Motor on Wednesday opened its sixth motor studio designed to enhance its brand image and promote its vehicles in Beijing. It also has four motor studios in Korea and one in Moscow.