Hyundai CRADLE Expands Strategic Roles In Silicon Valley For Hyundai Motor Group

BERKELEY, Calif., Nov. 15, 2017 /PRNewswire/ -- Hyundai Motor Group (HMG) is announcing the launch of Hyundai CRADLE, the Center for Robotic-augmented Design in Living Experiences. Formerly Hyundai Ventures, CRADLE will strengthen HMG's core automotive business and expand into new and adjacent markets with the goal of enhancing transportation on and off the road. The company also plans to expand the Hyundai CRADLE innovation concept globally.

To enhance transportation technology and innovations, CRADLE will operate with three primary functions: strategic venture capital, open collaboration with the startup community and early-stage new concept development. To drive these primary functions, CRADLE's strategic investments will focus on five themes:

• Robotic and intelligent systems
• Eco-friendly technologies
• Mobility services
• Materials and manufacturing technology
• New vehicle concepts

In keeping with Hyundai's vision of the future of mobility debuted at CES 2017, the advancement of these technologies will go beyond automotive transportation into many forms of mobility on the road, in the home and beyond.

"In addition to Hyundai Ventures' purview of identifying and investing in new technologies and markets, CRADLE will drive growth of innovations from their initial conceptualization into the prototype phase and far beyond," said John Suh, vice president of Hyundai CRADLE. "To this end we will look both externally and internally for innovation and ways to tap new markets and technologies."

Hyundai Motor has been bolstering efforts to expand cooperation with globally renowned organizations and institutions. These efforts will allow Hyundai Motor to quickly and effectively respond to rapidly changing needs and environments associated with the automotive industry. The goal is to have an 'open innovation' philosophy.

Earlier this month, Hyundai Motor announced plans to establish an "Open Innovation Center" in Israel, spearheaded by the Strategy & Technology Division. The Strategy & Technology Division, which launched in February oversees the company's research in future technologies. These technologies include mobility services, smart cities, artificial intelligence (AI), advanced materials, eco-friendly energy, robotics, and new platforms.

HYUNDAI MOTOR AMERICA

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 830 dealerships nationwide. All new Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes a 5-year/60,000-mile fully-transferable new vehicle limited warranty, Hyundai's 10-year/100,000-mile powertrain limited warranty and five years of complimentary Roadside Assistance.

For more details on Hyundai Assurance, please visit www.HyundaiAssurance.com

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