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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hyundai Motor Company    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

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Hyundai Motor : Hosts 2020 Open Innovation Lounge Featuring Inventive Startup Technologies

11/20/2020 | 10:28am EST

Highlights:

* 2020 Open Innovation Lounge selected startups via Hyundai Motor Group's open innovation hubs, showcasing unique technologies to be used in future vehicles

* 11 startups from around the world displayed leading-edge solutions in vehicle entertainment, convenience and safety and hygiene

* Hyundai Motor Group to strengthen product competitiveness via collaboration with global startups using open technology innovation platform

SEOUL- Hyundai Motor Group (the Group) organized the 2020 Open Innovation Lounge exhibition at its headquarters in Seoul on Nov. 16-17, featuring inventive new technologies and solutions spawned through joint collaboration between the Group's staff members and engineers and those of startups from around the world.

The two-day event showcased unique innovations to be potentially incorporated into future vehicles following evaluation of their commercial feasibility by the Group. Vehicles embedded with diverse future-oriented solutions as well as prototypes of solutions were on display, offering an interactive opportunity for experiencing and imagining new possibilities of future automobiles.

The Open Innovation Lounge, as an open innovation platform, will nurture a culture of developing creative and agile new products and technologies within Hyundai Motor Group. It also attempts to incubate and hatch cutting-edge innovations through cooperation with external startups, and to commercialize them in response to a rapidly changing industry.

'In order to increase customer satisfaction, it is critical for any company to provide products the customers need in a timely manner,' said Thomas Schemera, Executive Vice President and Head of Product Division at Hyundai Motor Group. 'We will strengthen the product competitiveness of Hyundai Motor Group by actively cooperating with global startups through the Open Innovation Lounge platform.'

Highlighting the Group's innovation objective prioritizing customers, the platform was launched last year through evaluation of some 300 startups discovered by Hyundai Motor Group's open innovation platform ZER01NE Accelerator in Seoul, and open innovation hubs, Hyundai CRADLE (Center for Robotic-Augmented Design in Living Experiences) in Silicon Valley, Berlin, Beijing and Tel Aviv.

Via ZER01NE Accelerator and Hyundai CRADLE, the Group has strengthened collaboration with startups to spur research and development of groundbreaking new technologies and solutions, and to support their future development and marketization.

Out of the 300 startups, 11 from around the world were chosen through evaluation of their solutions based on the criteria of customer needs and wants, technological feasibility and technological uniqueness. The participating 11 enterprises are: Genswell, Anyractive, PSYCURE, Microsystems, LOOMIA, Eyeris, NextInput, Comfort Motion Global (CMG), FLEXOUND, Maigao and Gauzy.

Hyundai Motor Group provided support to them, particularly helping them envision and flesh out various concepts from an automotive industry perspective as well as providing financial and logistical support to execute their projects.

At the exhibition, the 11 startups showcased solutions in the three categories of vehicle entertainment, vehicle convenience and vehicle safety and hygiene. In the vehicle entertainment arena were Genswell's 'Haptic Bass Booster,' which creates dynamic vibrations connected to the vehicle sound system; Anyractive's 'Glass Touch Control,' which enables using the side glasses of a vehicle as touch displays; NextInput's 'Force Touch HMI,' which offers a new human-machine interface experience by changing the hard keys in the vehicle to force-touch keys on different materials such as wood, steel, aluminum and glass; and FLEXOUND's 'Immersive Personal Sound Experience,' which provides an immersive, three-dimensional sound experience in each cabin seat by combining sound and elastic vibration.

In the vehicle convenience arena were Microsystems' 'Automatic Sensor Cleaning,' which removes liquid matters on the vehicle glass through vibration; LOOMIA's 'E-textile,' which replaces the door panels to 'E-textiles' offering heating, lighting, touch points and others as a novel form of human-machine interface; CMG's 'Fatigue Relievance Seat,' which finetunes the weight distribution of a seat by detecting a passenger's movement, thereby reducing passenger fatigue; Maigao's 'Rear Glass Advertisement,' which projects commercial images on the rear window through a micro-projector; and Gauzy's 'Smart Glass,' which controls the transparency of vehicle glass components, enabling them to offer different shades subject to the occupant's needs.

In the vehicle safety and hygiene arena were PSYCURE's 'Sterilizing Light,' which installs a sterilizing LED on the ambient lighting system to provide continuous disinfection of cabin space; and Eyeris's 'In-Cabin Monitoring,' which recognizes the movement of passengers and objects in the cabin for diverse safety and convenience-related applications.

Hyundai Motor Group will evaluate the feasibility of commercializing the exhibited technologies and solutions in collaboration with its internal teams. The Group accepts new partnerships with startups through its ZER01NE Accelerator homepage (https://zer01ne.zone/program/zer01ne-acc-2020-open-call/) through Dec. 27, 2020, through which proposals for innovative technologies and solutions can be submitted.

About Hyundai Motor Group

Hyundai Motor Group is a global corporation that has created a value chain based on automobiles, steel, and construction and includes logistics, finance, IT and service. With about 250,000 employees worldwide, the Group's automobile brands include Hyundai Motor Co. and Kia Motors Corp and Genesis. Armed with creative thinking, cooperative communication and the will to take on all challenges, we are working to create a better future for all.

More information about Hyundai Motor Group, please see: : www.hyundaimotorgroup.com

More information about Hyundai Motor and its products can be found at: worldwide.hyundai.com or globalpr.hyundai.com

Visit the Kia Motors Global Media Center for more information: www.kianewscenter.com

For more information on Genesis and its new definition of luxury, please visit https://www.genesis.com

Disclaimer: Hyundai Motor Group believes the information contained herein to be accurate at the time of release. However, the company may upload new or updated information if required and assumes that it is not liable for the accuracy of any information interpreted and used by the reader.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 103 997 B 94,5 B 94,5 B
Net income 2020 1 865 B 1,70 B 1,70 B
Net Debt 2020 57 399 B 52,2 B 52,2 B
P/E ratio 2020 35,7x
Yield 2020 1,44%
Capitalization 55 067 B 49 931 M 50 056 M
EV / Sales 2020 530x
EV / Sales 2021 479x
Nbr of Employees -
Free-Float 71,0%
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Mean consensus BUY
Number of Analysts 27
Average target price 277 666,67 KRW
Last Close Price 261 500,00 KRW
Spread / Highest target 53,0%
Spread / Average Target 6,18%
Spread / Lowest Target -46,5%
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Managers and Directors
NameTitle
Eui-Sun Chung Chairman & Co-Chief Executive Officer
Won-Hui Lee Co-President, Co-CEO & Director
Eon-Tae Ha Co-Chief Executive Officer & Director
Chang Jae-hoon Co-President & Co-Chief Executive Officer
José Munoz Global Chief Operating Officer
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