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Kia, Hyundai and LG Chem join hands to invest in EV Startups

24Jun By PriyankaNo Comments

Automobile

Kia, Hyundai and LG Chem join hands to invest in EV Startups

New Delhi, June 23, 2020: South Korean automakers Hyundai Motor Company and Kia Motors Corporation, along with LG Chem announced a global competition to identify up to 10 electric vehicle and battery startups for potential investment and collaboration. New Energy Nexus, the international startup support organization, will manage and facilitate the competition ''EV & Battery Challenge (EVBC)'' the companies said in a joint statement. The chosen startups will have the opportunity to work hand-in-hand with Hyundai, Kia, and LG Chem, to develop proof-of-concept projects while leveraging the sponsors'' technical expertise, resources and laboratories, they added. "The global competition offers startups the opportunity to showcase their respective innovative technologies and unique b...

5Feb By AnkitaNo Comments

FUNDING

Israeli Start-up Kardome Raises Seed Funding from Hyundai

TEL AVIV, Israel, Feb. 4, 2020-- Israeli startup Kardome raises seed round, led by Korean car giant Hyundai Motor Company. Kardome was founded in January 2019 by serial entrepreneurs Dani Cherkassky and Alon Slapak, with the goal of meeting the growing demand for reliable voice control technology from automakers and electronics manufacturers. Kardome's technology gives the machine better "ears" through algorithms that manage to isolate the user's voice, even in a noisy environment with multiple speakers and background noises that are active at the same time. Kardome's technology combines dedicated software with the use of microphones that exist in various products. Kardome software enables the implementation of a new generation of voice user interface, operating reliably even in...

Hyundai and Kia Invest $110 Million in Electric Vehicle Startup

17Jan By NitishNo Comments

Automobile, FUNDING

Hyundai and Kia Invest $110 Million in Electric Vehicle Startup

SEOUL, South Korea, Jan. 16, 2020 -- Hyundai Motor Company and Kia Motors Corporation invest USD $110 million in a new partnership with Arrival, a UK-based electric vehicle startup. Through the partnership, Hyundai and Kia plan to introduce competitively priced small and medium-sized electric vans and other products for logistics, on-demand ride-hailing and shuttle service companies. Arrival's scalable electric platform can be adapted for multiple vehicle categories and types which Arrival, Hyundai and Kia will explore for the development of a range of Purpose Built Vehicles (PBV). The partnership with Arrival will help Hyundai and Kia meet the rapidly growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands' transformation from car make...

Hyundai India Rolls Out Online Sales Platform

17Jan By Press Trust of IndiaNo Comments

Automobile

Hyundai India Rolls Out Online Sales Platform

Hyundai Motor India has launched an online sales platform in addition to its existing physical retail sales network. The company said its 'Click to Buy' is a first-of-its kind online sales platform with simple and transparent process for purchase of Hyundai cars. "It is India's first online sales platform to cater to the needs of new-age digital customers for purchase of new Hyundai cars," Hyundai Motor India MD and CEO SS Kim said in a statement. The retail selling has witnessed a tremendous shift since the last decade and the new generation is immensely inclined to buy products online, he added. Hyundai has currently introduced the initiative on a pilot basis with few dealers in Delhi-NCR. All company models will be available on the 'Click to Buy' website and this would ac...

Ola, Hyundai in talks for $300 million fund infusion

9Mar By Press Trust of IndiaNo Comments

News

Ola, Hyundai in talks for $300 million fund infusion

NEW DELHI: Ola is in talks with Hyundai Motor Company for investing about USD 300 million in the cab-hailing platform, according to sources. The discussions are at an advanced stage and a deal could be closed in the next few weeks, sources said. If the deal goes through, it would be Hyundai's second investment in the Indian startup ecosystem. Previously, it had led a ₹100-crore funding round in car rental startup Revv. Ola did not respond to an e-mailed query on the development. A Hyundai Motors India spokesperson said the company is "open to cooperation with various potential partners but it is our policy not to comment on market speculation and rumours". The fresh funding will give the Bengaluru-based company more ammunition to compete with rival Uber in I...