Hyundai Mobis Expands Its Global Base For Open Innovation

Hyundai Mobis Expands Its Global Base For Open Innovation

Hyundai Mobis has launched an open innovation center in Shenzhen, China, the second of its kind, following a location in Silicon Valley in the U.S.

Hyundai Mobis has announced the launch of M. Cube in China’s Shenzhen, a mecca for Chinese start-ups. The launch is part of the company’s strategic efforts to strengthen open cooperation with other entities in preparation for a paradigm shift to future vehicles.

M. Cube is the name of Hyundai Mobis’s open innovation center that will focus on discovering and investing in global start-ups that have new, future-car technologies. M. Cube is the second open innovation center that Hyundai Mobis has launched, after unveiling the first location in Silicon Valley last November.

To better respond to Shenzhen’s rapidly changing start-up environment, Hyundai Mobis has appointed Peter Wang, who previously worked for Kuang-Chi Group, as director of M. Cube. An expert in strategic investment who has served as director of the innovation center at Shenzhen’s leading start-up Kuang-Chi Group, Wang is expected to play a key role in discovering innovative companies based on his broad network of contacts.

Shenzhen’s M. Cube will be tasked with discovering start-ups that distinguish themselves in a variety of innovation areas, including autonomous navigation, artificial intelligence, robotics and big data. Hyundai Mobis plans to sign partnership agreements with such companies to improve the competitiveness of the overall portfolio of its core parts and to achieve substantive technological advancement through thorough follow-up management.

As a means to secure promising new technologies, Hyundai Mobis will be setting up a system that will allow it to independently conduct various tasks from market trend research to start-up discovery and investment, as well as feasibility studies. Investing in promising start-ups in Shenzhen is so fierce and competitive that a call for investors usually closes within two to three weeks, according to the company. As such, the measure aims to secure opportunities for collaboration with such companies through quick decision-making.

To that end, Hyundai Mobis plans to ascertain an optimal form of collaboration by organically linking its existing Shanghai research institute and its research division in Shenzhen.

You May Also Like

Australian Workshop Equip. Leaders Visit Spain’s Cojali Plant

Australia’s Burson Equipment Team took part in Jaltest diagnostics factory training at the Cojali plant.

Burson Equipment, one of Australia’s leading national workshop equipment sales and service providers, has extended the division’s premium equipment knowledge and experience following a five-day visit to the Cojali research, design and manufacturing headquarters in Spain during late 2022.

Cojali is a three-decade strong multinational manufacturer of components, advanced diagnostics equipment and predictive maintenance and remote diagnostics solutions for commercial vehicles, construction and agricultural equipment, material handling equipment and vessels. 

Hitachi Astemo, Trend Micro, VicOne Collab on Connected Cars

The companies are aiming for commercialization by 2025.

Canoo Partners with GCC Olayan

Through the partnership agreement, GCC Olayan will be the exclusive distributor of Canoo EVs in Saudi Arabia.

NEXUS Automotive International Accelerates Growth in Africa

IAMAGA includes 34 Africa-based members and their affiliates.

BG Automotive Unveils Expanded Product Range

Ten new references have been added across BGA’s steering & suspension, cylinder head cover and timing chain ranges.

Other Posts

Volvo Venture Capital Invests in Autonomous Trucking Tech

Waabi is developing next-generation artificial intelligence technology to solve autonomy at scale.

LIQUI MOLY Generates €800M in Sales in 2022

The company says in 2022 it was able to compensate for global challenges through its strategy and quick action. 

First NEXUS Academy Held At AVI Technician Conference

More than 250 technicians attended classes on Jan. 13-14, eager to learn and sharpen their automotive technical knowledge. 

Prospects for the Brazilian & South American Auto Industry

Julian Semple, consultant and manager of CARCON Automotive in Brazil, discusses 2022 results and prospects for 2023.