Hyundai CRADLE expands strategic roles in Silicon Valley for Hyundai Motor Group
Hyundai Motor Group (HMG) announced the launch of Hyundai CRADLE, the Center for Robotic-augmented Design in Living Experiences. Formerly Hyundai Ventures, the goal of CRADLE is to 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. The company says that 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, advanced materials, eco-friendly energy, robotics, and new platforms.