• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, July 20, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Tech Automobiles

Hyundai Motor considering to increase its stake in autonomous mobility platform

by Meghana Kandra
August 1, 2022 - Updated On August 2, 2022
in Automobiles, Cars, Electric Vehicles, Manufacturing
Reading Time: 2 mins read
0
Hyundai will buy the Korean autopilot maker 42dot
TwitterWhatsappLinkedin

A spokesperson of 42dot stated that the autonomous mobility platform is in talks with Hyundai Motor. The terms like stake size and deal valuation were not materialized, but it is known that Hyundai is considering a higher stake. Currently, the automaker owns a 20.4% stake in the three-year-old startup.

You might also like

Uber’s Bold Move: 20,000 Robotaxis Coming Soon with Lucid and Nuro

GM’s New Patent Wants to Save You from Potholes! Before You Even See Them

Mercedes-Benz Hits Pause on U.S. EQ Electric Lineup Amid Tax Credit Expiry and Sluggish Sales

Hyundai will buy the Korean autopilot maker 42dot
Image credits- Game News 24

As of December 2021, the co-founder and chief executive Chang-Hyeon Song held a 36.19% stake in the company. Hyeon Song currently leads the transportation-as-a-service (TaaS) team at Hyundai. The rest is owned by venture capital firms and strategic investors, including LG Electronics, SK Telecom, Lotte Rental, CJ Logistics, and LIG Nex1.

The ongoing deliberation signals Hyundai Motor’s accelerating efforts to strengthen its autonomous driving technology which is in line with the Korean automaker’s grand plan to invest $79 billion (95.5 trillion WON) through 2030 into autonomous driving software technology and electric vehicle-related businesses. Hyundai Motor, which has said it aims to secure 7% of the global electric vehicle market by 2030, earmarked $9.2 billion (12 trillion WON) for connectivity and autonomous driving software investment. The news comes nearly nine months after 42dot raised $88.5 million in its Series A financing round at a valuation of about $425 million to accelerate its TaaS service and urban mobility operation system (UMOS).

Investment talks

South Korean local media Korean Economic Daily first reported the news, citing anonymous sources, that Hyundai is in talks to invest at least 400 billion WON (~$306.4 million) in 42dot. According to the newspaper, Hyundai approached 42dot for the acquisition in June. The proposed deal could be completed this month, the paper said.

Founded in 2019 by former Apple, Microsoft, and Naver alum Song, 42dot has developed AKit, a self-driving software, and hardware solution, and TAP, an autonomous mobility and logistics platform that offers a number of services across ride-hailing, fleet management, demand-responsive transport, smart logistics and more.

Together, they create a centralized, fully autonomous, and self-managed mobility infrastructure. Through the development of UMOS, 42dot aims to improve the efficiency, safety, and convenience of the movement of people and goods. 42Dot says it will expand the pilot operation to test various autonomous driving technologies and mobility platforms on real roads. It is also planning to increase the number of autonomous vehicles for this purpose.

Their UMOS is a comprehensive platform with functionality that spans various layers of the TaaS stack. A user interface that provides access to connected mobility and lifestyle services is one layer. Smart algorithms for fleet dispatching and management are another. Finally, cutting-edge extra-definition map and routing technology and autonomous machines are two layers that are part of the TaaS stack.

Tags: 42dotautonomous mobility platformelectric vehiclesHyundai MotorSelf-Driving Cars
Tweet54SendShare15
Previous Post

Logistics start-up Grab.In joins ONDC after Dunzo

Next Post

Less Than a Year After a Significant Fundraising Effort, Agritech Startup DeHaat Announced Job Cuts.

Meghana Kandra

Meghana studied PGD in Journalism, open university. She has more than five years of experience in content writing, from creative content development to online journalism. Electric vehicle enthusiast, engineer, and feminist.

Recommended For You

Uber’s Bold Move: 20,000 Robotaxis Coming Soon with Lucid and Nuro

by Samir Gautam
July 19, 2025
0
Uber’s Bold Move: 20,000 Robotaxis Coming Soon with Lucid and Nuro

Uber is taking a major leap into the future of transportation. The ride-hailing giant just announced a massive new partnership with electric carmaker Lucid Motors and autonomous driving...

Read more

GM’s New Patent Wants to Save You from Potholes! Before You Even See Them

by Samir Gautam
July 19, 2025
0
GM Pothole detection Road condition Vehicle sensors Smart driving technology

If you've ever hit a pothole and felt your soul (and suspension) leave your body, you're not alone. The United States is facing a well-known infrastructure problem: roads...

Read more

Mercedes-Benz Hits Pause on U.S. EQ Electric Lineup Amid Tax Credit Expiry and Sluggish Sales

by Samir Gautam
July 19, 2025
0
Mercedes-Benz Pauses EQ EV Sales in U.S.

Mercedes-Benz is temporarily halting production and sales of its EQ-branded electric vehicles in the United States starting September 1, 2025. This move affects all variants of the EQE...

Read more
Next Post
Less Than a Year After a Significant Fundraising Effort, Agritech Startup DeHaat Announced Job Cuts.

Less Than a Year After a Significant Fundraising Effort, Agritech Startup DeHaat Announced Job Cuts.

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?