Israeli President Reuven Rivlin (L) listens to explanations from Chung Eui-sun (3rd from L), executive vice chairman of Hyundai-Kia Motor Group, about a Nexo hydrogen fuel-cell electric car during a visit to the carmaker’s research center in Hwaseong, southwest of Seoul, on July 15, 2019, in this photo provided by Hyundai.
SEOUL, April 27 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Monday it is considering investing in an Israeli smart glass startup for cooperation in next-generation vehicles.
Hyundai’s potential investment in Gauzy Ltd., which manufactures liquid crystal glass panels, known as smart glass, for use in a variety of industries comes as it seeks to use the high-end product in its environment-friendly vehicles and urban air mobility (UAM) solutions, a company official said over the phone.
UAM is a key future innovation business that can help overcome urban challenges like traffic congestion, connects the sky and the ground.
Hyundai reportedly teamed up with Singapore based venture fund BlueRed Partners and U.S.-based materials science firm Avery Dennison Corp. to make an investment in Gauzy for future business opportunities.
The maker of the Sonata sedan and the Santa Fe SUV is considering investing 3 billion won to 4 billion won (US$2.4 million-$3.3 million) in Gauzy, according to local reports.
But the company didn’t provide the value of investment.
Smart glass products developed by Tel Aviv-based Gauzy make glass materials used in a vehicle’s sunroof, car windows, buildings and others transparent or opaque.
(Yonhap)
