Hyundai to invest $13 billion in mobility software development
Seoul, October 13 Hyundai Motor Group said it will invest 18 trillion won ($13 billion) to apply an advanced software program to all its vehicles and provide customers with regular software update services.
The South Korean automaker has decided to invest heavily in software to launch most of its new vehicles as “software-defined vehicle (SDV)” in global markets from 2025, Hyundai said in a statement. .
Hyundai Motor Group aims to regularly update the performance and functions of all vehicles to be sold globally from 2025 as it seeks to transform itself into a future mobility solutions provider, the agency reports. Yonhap press.
“Currently, customers need to visit after-sales service centers to update software programs for their vehicles. But wireless update services will be available for SDVs and their residual value will remain high,” said said a Hyundai official.
As part of related efforts, Hyundai Motor Group will ensure that all vehicles to be launched from 2023, including combustion-engine and all-electric models, receive software updates over the air, said the responsible.
Among the planned investments, Hyundai will devote part of it to developing self-driving technology, improving connectivity services and building a large data center, according to the statement.
The company expects the number of vehicles registered for Hyundai’s connected car services to increase to 20 million by 2025, from around 10 million at the end of this year.
It will analyze data accumulated from connected car services and use that data to provide personalized software services to its vehicle owners, according to the statement.