Hyundai announces massive self-driving investment as South Korea looks to lead in autonomous tech
Hyundai Motor Executive Vice President and Chief Marketing Officer Cho Won Hong speaks at the 2019 Consumer Electronics Show in Las Vegas.Hyundai Motor Group plans to spend $35 billion over the next five years on self-driving and alternative mobility ventures as part of a larger South Korean initiative to commercialize autonomous transport fleets before any other country.
South Korean President Moon Jae-In has said that his country has the chance to become the world leader in batteries, hydrogen, semiconductor and information technology in general. Moon also predicted on Tuesday that self-driving cars will account for half of all new cars on South Korea’s roads by 2030.
South Korean government officials told Reuters that they expect Hyundai to launch Level 4 cars in fleets in 2024 and make them available to consumers by 2027.
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