Hyundai to Invest $13 Billion in Mobility for Advanced Software Program

Last Updated: October 13, 2022, 18:51 IST

Hyundai has decided to make the massive software investment. (Photo: PTI)

Hyundai Motor Group aims to regularly update the performance and function of all vehicles to be sold globally from 2025

Hyundai Motor Group said it will invest 18 trillion won ($13 billion) to apply an advanced software program to all of its vehicles and offer its customers regular software updating services. The South Korean carmaker has decided to make a massive software investment to launch most of its new vehicles as “Software Defined Vehicles (SDV)” in global markets from 2025, Hyundai said in a statement.

Hyundai Motor Group aims to regularly update the performance and function of all vehicles to be sold globally from 2025 as it seeks to morph into a future mobility solutions provider, reports Yonhap news agency. “Currently, customers need to visit after-sales service centers to update their vehicles’ software programs. But wireless updating services will be available for SDVs and their residual value will remain high,” a Hyundai official said.

In related efforts, Hyundai Motor Group will make all vehicles to be launched from 2023, including combustion engine and all-electric models, receive wireless software updates, the official said.

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Of the planned investments, Hyundai will spend some of them on developing autonomous driving technology, improving connectivity services, and building a big data center, the statement said.

The company expects the number of vehicles that have registered for Hyundai’s connected car services to jump to 20 million in 2025 from an estimated 10 million at the end of this year.

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It will analyse accumulated data from the connected car services and utilise the data to provide customised software services for its vehicle owners, the statement said.

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