Last week it was Skoda, and this week Hyundai Motors announced that it would open a research and development center in Israel. With the move, Hyundai joins a growing number of car makers, including BMW, Ford, GM and others that are developing sensor-based smart cars and driverless vehicle technologies in Israel.
Hyundai announced Wednesday that it had entered into a memorandum of understanding with Technion and KAIST (Korea Advanced Institute of Science and Technology) to conduct joint R&D projects around future mobility technologies. The three will work together with a collective goal to quickly and effectively respond to rapidly changing needs and environments associated with the automotive industry, Hyundai said.
The newly-signed agreement will see the company and the universities form the “HTK Consortium for Future Mobility Research,” which will conduct research to accelerate developments in advanced future technologies, including autonomous driving, cyber-security and artificial intelligence over the coming years. Hyundai will also utilize the Technion’s expertise in working with start-ups, with the Israeli tech institute acting as bridge between Hyundai and emerging companies. The HTK Consortium will discover and incubate prospective start-ups in Israel, providing the support and consultation they need to bring their products and technologies to the market.
“By identifying, nurturing and boosting the work of the best start-ups, we plan to accelerate our global leadership in future mobility,” Tae-won Lim, head of Technology Innovation Center at Hyundai Motor said. “Israel is known around the world for the quality of its start-ups, 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.”
“The fourth industrial revolution is fast changing the automotive industry, bringing with it unique opportunities for those who are bold enough to embrace them,” said Technion President, Prof. Peretz Lavie. “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.”