SINGAPORE (Reuters) – South Korea’s Hyundai Motor Co started construction on a research and development centre in Singapore on Tuesday that will house a small-scale electric vehicle production facility.
Speaking at the groundbreaking ceremony, Singapore Prime Minister Lee Hsien Loong said the facility may produce up to 30,000 electric vehicles (EVs) annually by 2025 and represents an investment of S$400 million ($295 million).
Singapore is one of the world’s most expensive places to buy a car and does not currently have any auto manufacturing capacity. But the wealthy city-state has set out ambitious plans to phase out petrol vehicles by 2040.
“Automotive activities are becoming viable in Singapore once again. EVs have a different supply chain, fewer mechanical parts and more electronics, which plays to Singapore’s strengths,” PM Lee said.
A Hyundai spokeswoman confirmed the 30,000 unit target but said that the exact capacity was yet to be determined. The
Construction begins with virtual groundbreaking ceremony attended by Singapore Prime Minister Lee Hsien Loong, South Korea’s Industry Minister Sung Yun-mo, and Hyundai Motor Group Executive Vice Chairman Euisun Chung
HMGICS to serve as an innovation center for future mobility studies
Construction due to be completed by the end of 2022
Center to lead paradigm shift in mobility value chain, spanning the entire lifecycle of vehicles
Small-scale manufacturing capabilities focused on EVs to test a customer-centered manufacturing platform
HMGICS to explore new business concepts, including battery-as-a-service
SEOUL, South Korea and SINGAPORE, Oct. 13, 2020 /PRNewswire/ — Hyundai Motor Group (the Group) celebrated the groundbreaking announcement of the Hyundai Motor Group Innovation Center in Singapore (HMGICS) with a virtual ceremony today. The center will act as an open innovation lab for the Group’s future mobility research and development, with the aim of revolutionizing the future mobility value chain.
For outsiders it is usually very difficult or even impossible to determine the value of a company. Especially when it is not based on sales or profits, as in the case of MicroVision (NASDAQ:MVIS), but on intellectual property (patents) and existing technology that will be used in future products. In the case of MicroVision, however, it is essential for shareholders to know the valuation, as the company or parts of it are currently up for sale. In other words, it is important to know the amount a buyer is likely to pay before the sale. The only thing that helps here is to compare the company’s products with those of its competitors. Once this has been done, the company’s valuation can then be derived from the valuations of comparable competing companies. This is what this article tries to do for MicroVision, initially only for the Automotive LiDAR division, i.e.
Hyundai Mobis has developed the Integrated Communication Controller, which enables real-time communication of various vehicle information with other vehicles or infrastructure through external communication networks.
The company says it succeeded in localising the core connected car technology that connects vehicles, people, things and infrastructure with high-speed communication networks. It is expected that various kinds of vehicle and driver data will be utilised to apply a wider range of services that provide safety and convenience.
The Integrated Communication Controller, developed by Hyundai Mobis, connects various Electronic Control Units (ECU) mounted on the vehicle – the powertrain, multimedia, airbags and brake systems, through wired communication to collect and analyse various kinds of vehicle operation data in real time. It can process large amounts of data, including the data from various sensors like radars, lidars and cameras, and autonomous driving-related data.
It also communicates this information with the outside through full-time wireless network
At this year’s CES 2020 event, Hyundai Motor Corporation unveiled a magnanimous vision for future mobility where land and aerial modes of transportation are inextricably linked together. The three-tiered project, collectively known as Urban Air Mobility, Purpose Built Vehicle and Hub (UAM-PBV-Hub), is “a key future innovation business that can help overcome urban challenges like traffic congestion and transform the paradigm of mobility.”
Despite the project’s enormous size and scope, it’s not the only sizeable investment that Hyundai plans to make as far as smart mobility solutions go. And so to ensure these projects and more proceed according to plan and schedule, the South Korean carmaker has tapped into the expertise of the best AI minds in the business.
The company has announced the recruitment of top scholars in artificial intelligence (AI), Tomaso A. Poggio and Daniela L. Rus, as part of its AI Technology Advisory Group to
In a follow-up to its electric eTCR Veloster race car introduced last year, Hyundai has built a new battery-powered concept based on our favorite hot hatch. It’s called the RM20e, and like the Veloster eTCR, it has a mid-mounted motor and spins the rear wheels. Developed in collaboration with Rimac, it makes a claimed 810 horsepower and 708 lb-ft of torque. That is . . . a lot.
The RM20e is the latest in a long line of midship Hyundai Veloster concepts, with the first having debuted in 2015. The RM stands for “racing midship.” According to the South Korean company, the car is an engineering rolling lab for testing its new high-performance tech. The single 800-volt electric motor is powered by a 60.0-kWh lithium-ion battery pack, which Hyundai claims is able to propel the car to 60 mph in less than three
Robots. Flexible TV screens. Microbe-killing UV lights. Those are just a few things Hyundai imagines will be a part of future electric vehicle cockpits, and the automaker partnered with fellow Korean giant LG to help bring the concept to life. It’s one of those concepts that really feels like something out of science fiction.
The design puts a major emphasis on interior space, which you often see in EV concepts since there’s no need for a transmission tunnel. Designers can also push exterior wheels further to the corners to create capacious caverns inside. Hyundai’s Electronic Global Modular Platform will accomplish both tasks. With the extra space onboard, LG and Hyundai believe there’s potential for a “personalized mobility solution.” Those are some pretty heavy buzzwords, but essentially, the automaker thinks the shift to EVs opens up the possibility for less utilitarian transportation, more rolling