Korean giant Hyundai Motors is becoming the latest major international carmaker to set up a development center in Israel. The announcement was made by Hyundai chief innovation officer of Strategy and Technology Dr. Youngcho Chi at the Fuel Choices and Smart Mobility Summit being held in Tel Aviv.
Dr. Youngcho Chi explained that the changes taking place in the world of transportation has persuaded Hyundai to open several new strategy and technology divisions to explore these changes. He said that the new Israeli development center would open in 2018 and would focus on such fields as energy, smart cities, artificial intelligence, smart transportation and robotics.
Dr. Youngcho Chi added that Hyundai would cooperate with several Israeli partners to take advantage of business opportunities and the center would identify relevant startups, venture capital investments and collaborations that connect new technologies with Hyundai's operations.
General Motors already operates a major development center in Israel employing hundreds of engineers. Other major car manufacturers have also opened development centers in Israel over the past two years including Renault, Honda, SAIC and Porsche.
Published by Globes [online], Israel business news - www.globes-online.com - on November 1, 2017
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