Hyundai To Establish Global Innovation Centre In Singapore

Hyundai Mobility Global Innovation Center in Singapore will help the company to establish a small pilot EV production facility by combining AI, Internet of Things (IoT) and other advanced technologies.

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Hyundai's new lab will help the company to reach out for the new markets

Highlights

  • Hyundai Mobility Global Innovation Center construction will begin in May
  • HMGICs work is expected complete by the second half of 2022
  • The center will be located in Jurong District of Singapore

Hyundai Motor Company officially announced that it will be establishing a Mobility Global Innovation Centre (HMGICs) in Singapore. The auto manufacturer decided to take this step for accelerating its efforts to transform into a Smart Mobility Solution provider, which will be done with the assistance from the Singapore Economic Development Board (EDB). Hyundai's innovation centre will be located in Jurong District of Singapore. To be developed by JTC Corporation, the construction of this innovation lab will commence in May with the completion expected by H2, 2022.

Also Read: Hyundai's Global Sales Drops By 21% In March As Coronavirus Hits Demand, Output

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Hyundai to establish its Mobility Global Innovation Center in Singapore

The one-stop advanced manufacturing centre will house a huge network of researchers, technology and training providers and factories of the future. It will assist the company in exploring several business ideas along with technologies to revolutionize R&D, business and production networks for future mobility solutions. To serve as Hyundai's global open innovation hub, HMGICs will also play a critical role in helping the company to define its future business course.

Bo Shin Seo, President - Hyundai Motor Company said, "HMGICs will be a testbed to explore and validate the future Hyundai is envisioning. Combining Hyundai's innovative spirit and Singapore's fertile atmosphere, we will develop ground-breaking businesses and future technologies."

Tan Kong Hwee, Assistant Managing Director, EDB said, "The Hyundai Mobility Global Innovation Center is an exciting addition to Singapore's growing Mobility ecosystem. Its focus on innovative business concepts and the development of a smart manufacturing platform, leverages the research and innovation capabilities, and the value that Singapore provides to companies that want to develop, testbed and create new solutions for the world."

Also Read: Upcoming Hyundai Creta 7-Seater SUV Spotted Again In Korea

The new lab will help Hyundai to reach out for the new markets on the global front which will transform its automotive R&D, production and sales. Additionally, the lab will help in establishing a small pilot EV production facility by combining AI, Internet of Things (IoT) and other advanced technologies. EV production is suitable for a smart manufacturing platform, as EVs require fewer parts in comparison to vehicles with internal combustion engines.

With new mobility business opportunities on offer via open innovation, the company is also looking to collaborate with several local partners for testing and validating innovative solutions that will help Hyundai to emerge as an advanced mobility service provider. Hyundai will look to join hands with leading educational institutions like Nanyang Technological University through joint projects and co-founding various research centers.

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In December, Hyundai Motor confirmed the company's new vision which is called Strategy 2025. With this new vision, the company is eyeing to lead the Smart Mobility Solutions with its two core pillars - Smart Mobility Devices and Smart Mobility Services. However, Smart Mobility Services is expected to play a key role in the company's future growth, as it will bring devices together offering a personalized mobility lifestyle to the customers.

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