Hyundai Motor has signed a memorandum of understanding with the Technion – Israel Institute of Technology in Haifa and KAIST (Korea Advanced Institute of Science and Technology) to conduct joint R&D projects on future mobility technologies. The Korean carmaker and the Israel and Korean research institutes will collaborate to respond to rapidly changing needs and environments in the automotive industry.
The newly-signed agreement calls for Hyundai and the universities form the ‘HTK Consortium for Future Mobility Research’, to carry out research to accelerate developments in advanced future technologies, beginning with autonomous driving, cyber security, and artificial intelligence.
Hyundai Motor will also call on the Technion’s significant experience and expertise in working with startups, with the Israeli tech institute acting as bridge between Hyundai Motor and emerging companies. The HTK Consortium will discover and incubate prospective startups in Israel, providing the support and consultation they need to bring their products and technologies to the market.
Hyundai Motor Technology Innovation Center head Tae-won Lim said, “By identifying, nurturing and boosting the work of the best startups, we plan to accelerate our global leadership in future mobility. Israel is known around the world for the quality of its startups, so with Technion and KAIST’s combined expertise, Hyundai Motor will be well placed to lead the development of the next generation of automotive technology.”
Technion president Prof. Peretz Lavie said, “The 4th industrial revolution is fast changing the automotive industry, bringing with it unique opportunities for those who are bold enough to embrace them. The new consortium brings together the best of both worlds: KAIST and Technion’s outstanding track record in research and innovation combined with Hyundai’s remarkable ability to incorporate cutting edge technology into designing and manufacturing ultra-modern, safe and reliable vehicles. I have no doubt this partnership will have a profound positive influence on the vehicles we will be driving in the near future.”