Hyundai Motor Group said Tuesday that it would open a mobility innovation center in Singapore to focus on developing and producing future mobility solutions by 2022.
The automaker’s new global lab called Hyundai Mobility Global Innovation Center in Singapore (HMGICs) will be located in Singapore’s Jurong Innovation District, an advanced technology manufacturing hub comprised of tech companies, factories and researchers.
The establishment of the automaker’s lab over the 44,000 square-meter land has been closely discussed with the Singapore Economic Development Board (EDB) since 2018, regarding the two countries’ collaboration on the fourth industrial revolution, Hyundai Motor said.
The construction will kick off in May and will be completed by second half of 2022.
“The HMGICs will become a brand new testbed for what Hyundai Motor has been thinking of for testing out future mobility solutions. Combined with Hyundai Motor’s effort to become a future mobility solution provider and Singapore’s fertile innovative technology ecosystem, we will develop out-of-box business and future technology,” said Hyundai Motor Group President Seo Bo-shin.
In recent years, Singapore has emerged as Asia’s technology hub, becoming a favored destination for firms to penetrate into the growing market. According to Singapore’s EDB, 80 of the global top 100 tech companies have operations in the city.
In the similar context, Hyundai Motor Group Executive Vice Chairman Chung Euisun has been increasing investment and collaboration with firms in Singapore in recent years.
Last year, the auto empire has designated Singapore to operate its car-sharing project. It has also conducted a hydrogen fuel cell taxi business there, where the transportation industry has been relatively open to new changes such as via ride-hailing giant Grab.
“On top of favorable business policies for foreign firms, Singapore’s transparent social system, stable political environment, and use of English as public language make it easier for some 7,000 global firms to put a foothold in the country,” said a Hyundai Motor official.
Hyundai Motor said its mobility innovation lab in Singapore will work as a testbed for its future mobility businesses, such as multi-modal.
The company will also conduct a new value-chain process comprised of research and development, manufacturing and sales of future mobility solutions at its new center, which is expected to create new customers in the new market, it added.
For example, the new center will be responsible for developing human-centered platform based on artificial intelligence and Internet of Things technology and test them during the trial production of electric vehicles. The center will also develop production system for custom-made orders.
By leveraging HMGICs, the automaker also plans to work with local startups, research institutes and universities -- such as Nanyang Technological University -- for mobility industry innovation.
Hyundai Motor’s Hyundai Cradle, a center for robotic-augmented design that has offices in South Korea, the US, Israel, Germany, China, as well as Air Lab, a unit responsible for AI development, will penetrate into Singapore via HMGICs to create synergies and expand the global network, the company said.
The automaker’s launch of a new global mobility center will also strengthen partnership with local firms such as Grab and expand its plan to test new business opportunities in last mile, multi-modal service and shuttle transportation sectors.
Hyundai Motor said it will also review specific plans for building smart city in Singapore which the Singaporean government has been focusing on recently.
“We expect HMGICs’ effort on developing new businesses and AI-production platform will create bigger values combined with Singapore’s value for research and innovation capacities,” said Tan Kong Hwee, an assistant managing director at EDB.
By Kim Da-sol (email@example.com