Hyundai is a dark horse in driverless car race

South Korean carmaker Hyundai just unveiled bold plans to invest in autonomous vehicles and other related systems. Despite the late start, well-chosen partners and support from Seoul give it a fighting chance. @KatrinaHamlin @mak_robyn:

23.10.2019

South Korean carmaker Hyundai just unveiled bold plans to invest in autonomous vehicles and other related systems. Despite the late start, well-chosen partners and support from Seoul give it a fighting chance. KatrinaHamlin mak_robyn:

The South Korean company is chasing Uber, GM and others with a strong push into autonomous and electric vehicles. A plan to invest $35 bln through 2025 signals the commitment. Hyundai’s poor R&D track record is a worry, but Seoul’s support and tech nous give it a fighting chance.

Hyundai Motor Group said on Oct. 15 it would invest 41 trillion won ($35 billion) in mobility and other auto technologies by 2025, part of which will be directed to an effort to become more competitive in self-driving cars.

The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates said they would invest $1.6 billion in a venture with U.S. self-driving tech firm Aptiv in September.

Read more: ReutersBreakingviews

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