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Hyundai Mobis Invests in and Forms Partnership with Velodyne Lidar

October 23, 2019 GMT

SEOUL, South Korea--(BUSINESS WIRE)--Oct 22, 2019--

Hyundai Mobis (KRX:012330) is joining hands with ‘Velodyne Lidar’, world leading lidar company, for mass-producing level 3 autonomous driving lidar system. Hyundai Mobis will also invest $50 million in Velodyne, creating invaluable synergy between the two companies to reinforce business cooperation in Lidar commercialization.

The two companies will collaborate on new lidar system supply by integrating Velodyne’s latest lidar sensors with Hyundai Mobis’ cognitive software. Velodyne has the largest share of the global lidar market and exceeds the latest high lidar requirements of global automakers. In this lidar with high specifications, Hyundai Mobis will develop and integrate its own cognitive software. This software will process the outside vehicle environment data gathered by lidar sensors which means that it would recognize and analyze moving or stationary objects, along with road systems such as traffic sign information.

Hyundai Mobis and Velodyne will commercialize their first lidar system for level 3 autonomous driving in 2021 by this partnership. The two companies will mark the start by supplying the system to the Asian market and will gradually expand to automakers in North America and Europe.

With this lidar system, Hyundai Mobis will finalize its sensor technology line up for autonomous driving of level 3 and above, where the main driving force is shifted from human driver to an independent car system. It has successfully developed a short-range radar last year and will secure deep learning-based camera and high-performance radar technology by next year.

“Hyundai Mobis is delighted to cooperate with Velodyne Lidar, one of the industry’s most reliable and mass-production ready Lidar sensor providers to finalize lidar system which is essential in high level autonomous driving,” said Ko Youngsuk, Head of the Hyundai Mobis Strategic Planning division. “Hyundai Mobis will continue to expand strategic collaboration with various innovators to accelerate open innovation for key technologies.”

About Hyundai Mobis

Hyundai Mobis is the 7th largest global automotive supplier. It is excellent in sensors, sensor fusion in controllers and software design capabilities in safety control. As Hyundai Mobis internalized all core auto component technologies, it has various product groups in ADAS based on its state-of-the-art technologies which combined sensors and these technologies.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191022006225/en/

CONTACT: Hyundai Mobis

Hanbyul Kim: +82-10-3521-1317khb@mobis.co.kr

KEYWORD: CALIFORNIA SOUTH KOREA UNITED STATES NORTH AMERICA ASIA PACIFIC

INDUSTRY KEYWORD: SOFTWARE HARDWARE AUTOMOTIVE TECHNOLOGY AUTOMOTIVE MANUFACTURING GENERAL AUTOMOTIVE MANUFACTURING MOBILE/WIRELESS

SOURCE: Hyundai Mobis

Copyright Business Wire 2019.

PUB: 10/22/2019 11:00 PM/DISC: 10/22/2019 11:00 PM

http://www.businesswire.com/news/home/20191022006225/en