42dot, a self-driving mobility unit under Hyundai Motor Group, is setting up a global software center for software defined vehicles, or SDVs, aiming to create a foothold in the burgeoning future mobility business.
Users can manage operations and acquire new features for SDVs primarily through software updates.
According to a regulatory filing on Wednesday, the company received a first-phase investment worth 346.2 billion won ($265.1 million) from the carmaker, who vowed to inject total of 1.5 trillion until 2025.
The overseas software center will be at the forefront of Hyundai’s push for vehicular software development. Such technological development is considered key for enhancing the driving experience, which includes autonomous driving, the company said. Details including the location of the center were not disclosed.
Last year, the world’s third-largest automaker vowed to transform all of Hyundai and its smaller affiliate Kia's cars into SDVs by 2025 under an 18 trillion won investment.
“We will focus on developing Hyundai’s own operating system, a prerequisite for the remote software updates called over-the-air programming and a successful transition to SDVs,” said a 42dot official. “Unlike Ford Motor, who pledged to use Google’s Android operating system in all of its vehicles, Hyundai will be reaching for higher ground.”
SDVs are like smartphones on wheels, the official added, stressing that customers can quickly enjoy the latest service improvement through simple software updates, instead of buying additional auto parts.
The company plans to recruit a three-digit number of tech talent from Korea, the US, Europe and other countries who have background experience in software development such as autonomous driving, cloud systems and artificial intelligence.
Founded in 2019, 42dot has developed an autonomous-driving shuttle service in partnership with Seoul City. It was acquired by Hyundai Motor Group in August last year.