Animesh Kumar, Director of Automotive Consulting at GlobalData, says Hyundai’s investment in new automotive technologies place the company among the top companies in the automotive industry, such as Volkswagen (VW) and Toyota, in terms of investments in future technologies.
“Hyundai has been regularly and aggressively investing in new automotive technologies. The South Korean automotive giant recently entered into a joint venture with an autonomous driving tech company Aptiv for the development and commercialisation of L4 and L5 self-driving vehicles,” said Kumar.
“Though several such investments and partnerships may appear to be for shared mobility but majority of them encompass two or more components of Connected, Autonomous, Shared, Electric (CASE).
“The developments fit into GlobalData’s hypotheses that in the long-term, cars will cease to remain a product and would become a service. They also indicate that auto manufacturers across the globe are increasingly looking at new avenues and technologies for long-term growth and to hedge against an uncertain future.
“However, Hyundai needs to be prudent as the development of self-driving vehicles involves risks in terms of high costs for acquiring technologies, and safety and regulatory concerns around the use of self-driving vehicles on public roads,” Kumar cautioned.