• The open innovations lab will explore ideas to revolutionize processes encompassing R&D, business and production for future mobility solutions
• The lab will develop and validate new business concepts in collaboration with various partners in Singapore for global application
• Hyundai will accelerate development of a human-centered smart manufacturing platform
• Hyundai to reach new markets and customers by focusing on innovation to transform automotive R&D, production and sales
SEOUL, March 31, 2020 – Hyundai Motor Company will establish a Hyundai Mobility Global Innovation Center in Singapore (HMGICs) to accelerate its innovation efforts, with support from the Singapore Economic Development Board (EDB).
The new innovative lab will be located in Singapore’s Jurong Innovation District, a one-stop advanced manufacturing hub developed by JTC Corporation, housing a vibrant ecosystem of researchers, technology and training providers and factories of the future. HMGICs will occupy a footprint of 44,000 m2 with the building area of 28,000 m2. Construction will begin in May with completion expected in second half of 2022.
As an open innovation lab, HMGICs will help ensure the company’s transformation into a smart mobility solution provider and secure its sustainable growth. The lab will explore business ideas and technologies to revolutionize a value chain encompassing R&D, business and production for future mobility solutions. It also will help define the future business direction for the company.
HMGICs will become Hyundai’s global open innovation hub. The lab, through open innovation on multiple fronts, will explore and prove new future mobility business concepts for eventual expansion into global markets. Combining Hyundai’s open innovations efforts with Singapore’s fertile atmosphere, HMGICs will validate concepts including multi-modal mobility service.
The lab will also spearhead efforts to reach new markets and customers with cutting-edge technologies that will transform automotive R&D, production and sales. Combining AI, Internet of Things (IoT) and other advanced technologies, the lab will create a human-centered smart manufacturing platform that will be validated through a small pilot EV production facility. In conjunction with the platform, an innovative product development process and on-demand production system will be tested and proven.
“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,” said Mr. Tan Kong Hwee, Assistant Managing Director, EDB.
“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,” said Bo Shin Seo, President at Hyundai Motor Company.
Singapore ranked first place in the World Economic Forum’s 2019 Global Competitiveness Report. Singapore’s competitiveness stems from its strategic location, competitive workforce, pro-business environment, and forward-looking economic policies. With a strong track record for open innovation, Singapore is an ideal location for Hyundai to test its innovative ideas such as HMGICs.
As part of its Smart Nation initiative to drive the adoption of digital innovation across industries, Singapore is actively fostering the use of digital technologies such as AI, digitalization, and smart urban mobility.
Proving new mobility business opportunities through open innovation
Hyundai, through HMGICs, will work closely with Singapore’s forward-thinking firms and educational institutions to pursue open innovation.
The company plans to collaborate with competitive local partners to test and validate innovative solutions for advanced mobility services.
Hyundai also will pursue open innovation with world-class educational institutions such as the Nanyang Technological University by conducting joint projects as well as co-founding separate research centers.
HMGICs will facilitate collaboration opportunities by deploying key engineers and relevant organizations from Hyundai’s R&D centers. The lab also will be home to members of the Hyundai CRADLE innovation hub and AI Research (AIR) Lab to maximize synergies.
With Hyundai CRADLE’s presence in Singapore, the company will expand its global innovation network to Southeast Asia, with hubs already established in Korea, U.S., Israel, Germany and China.
The lab also will test a service using multiple modes of transport, as well as on-demand shuttle and last-mile mobility via e-scooter. In addition, Hyundai will review a potential collaboration on a pilot study for Singapore’s Smart City project.
HMGICs will expand new business opportunities proven in Singapore to global markets.
Hyundai to secure new markets and customers with revolutionary technologies
With HMGICs in place, Hyundai Motor will seek ways to implement smart technologies that will transform the automotive value chain including development, production and sales. Hyundai expects to secure new markets and customers through the effort.
HMGICs aims to establish a human-centered smart manufacturing platform and present a vision of next-generation manufacturing for future vehicles. The new platform will not only be highly automated but also integrate AI, Internet of Things (IOT), digitalization and robotics. When realized, Hyundai’s new manufacturing platform will help make automotive plants safer and greatly diminish the physical burden for workers, using manpower only where necessary.
As part of the project, HMGICs will establish a small-scale pilot EV production facility as a testbed for human-centered manufacturing platform. EV production is especially suitable for a smart manufacturing platform, because EVs have fewer parts compared to vehicles with internal combustion engines.
In addition, HMGICs will test an on-demand production system, allowing customers to build their vehicles with a wider range of customization options.
At HMGICs, Hyundai also aims to study new methods of vehicle development conducive to smart manufacturing while further increasing use of virtual reality (VR) technology in the vehicle development process.
Hyundai’s transformation into Smart Mobility Solution Provider
Hyundai Motor in December announced a new vision for the company called Strategy 2025, aiming to transform into a Smart Mobility Solution Provider with two core business pillars of Smart Mobility Devices and Smart Mobility Services.
Of the two pillars, Smart Mobility Services will be a key future growth driver for Hyundai, bringing together devices and services to offer customers a personalized mobility lifestyle.
The company plans to leverage its customer base to provide vehicle services such as maintenance, repair, financing, insurance and charging. To do this, Hyundai will build a smart mobility platform that analyzes customer data based on vehicle utilization, leveraging increased connectivity. By gaining a better understanding of customers’ needs, the company will be able to offer services tailored to every aspect of customers’ lives, including shopping, delivery, streaming and mobility services.
Strategy 2025 also details regional optimization for Smart Mobility Services. In the U.S., car-sharing and robo-taxi services will capitalize on the anticipated commercialization of autonomous vehicles of SAE Level 4 or higher. In Korea, Asia and Australia, Hyundai plans to enter the mobility service market by partnering with leading local players. In Europe and Russia, where the service industry is mature, the company will focus on businesses that combine products and services.
HMGICs is expected to accelerate Hyundai’s transformation into a Smart Mobility Solution Provider.
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About Hyundai Motor Company
Established in 1967, Hyundai Motor Company offers a range of world-class vehicles and mobility services in more than 200 countries. Hyundai Motor sold more than 4.4 million vehicles globally in 2019, and currently employs some 120,000 personnel worldwide. The company is enhancing its product lineup with vehicles designed to help usher in a more sustainable future, while offering innovative solutions to real-world mobility challenges. Through the process Hyundai aims to facilitate ‘Progress for Humanity’ with smart mobility solutions that vitalize connections between people and provide quality time to its customers.
More information about Hyundai Motor and its products can be found at:
http://worldwide.hyundai.com or http://globalpr.hyundai.com
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