South Korea’s auto behemoth Hyundai Motor Group has spun off its four in-house startups with innovative technologies in mobility, automation and sustainable materials as independent firms, the company announced on Tuesday.
According to Hyudai Motor, Solarstic, ROAI, HVS and FlexOn will leave its startup incubation ZER01NE Company Builder program to stand alone.
The startups will be eligible for Hyundai Motor Group’s equity investment worth 100 million won ($68,500), each, and additional investment depending on future collaboration with Hyundai Motor.
The Korean auto giant has fostered entrepreneurship among its employees and technological advancements through the in-house startup incubation program since 2003, which has helped launch 40 independent startups.
The startups specialize in mobility, automation and sustainable materials.
REVOLUTIONIZING ENERGY SOURCES AND MANUFACTURING
Among the newly spun-off ventures, Solarstic manufactures lightweight and customizable solar modules that can be used in cars or building rooftops.
It uses plastic-based packaging to reduce solar modules’ manufacturing costs and weight and enhance design flexibility.
Another startup ROAI offers an artificial intelligence-powered program that can simultaneously control multiple industrial robotic arms.
It boasts outstanding motion planning technology that automates consecutive robot motions and big data processing technology that automatically determines robot tasks.
ENHANCED DURABILITY AND SUSTAINABILITY
On the materials front, HVS develops moisture-absorbing components that help extend the lifespan of critical products such as automotive lamps and batteries.
Flexon develops eco-friendly composite materials for wheel balance weights and battery explosion-proof pads. These products align with Hyundai Motor’s broader push for greener solutions in electric vehicles and beyond.
ZERO1NE Company Builder is a part of Hyundai Motor Group’s open innovation program called ZERO1NE Creative Talent Platform, which was introduced to the world in detail at the 2023 CES held in Las Vegas in January this year.
The Korean automaker hopes to have access to innovative ideas of creators beyond its own boundaries through the ZERO1NE platform, the company said.
By Sookyung Seo
skseo@hankyung.com
Jennifer Nicholson-Breen edited this article.
