Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 4 (Xinhua)-- 42dot, a self-driving company owned by Hyundai Motor Group, will set up a global development center based on the booming future mobile travel business, according to the Korea Herald.

▲ Tuyuan: 42dot reported that 42dot said in a filing with South Korean regulators that Hyundai's first phase investment in the company was 346.2 billion won (CTOnews.com Note: currently about 1.873 billion yuan), and Hyundai will invest 1.5 trillion won (currently about 8.115 billion yuan) in 42dot by 2025. 42dot will use this investment to set up a global development center to concentrate resources on developing an operating system for Hyundai, the report said, citing people familiar with the matter. 42dot says this is a prerequisite for the transition to a "software-defined car".

▲ source: Hyundai CTOnews.com has previously reported that Hyundai stated in its business roadmap that it plans to convert all its brands into "software-defined cars" by 2025. To this end, Hyundai Motor promotes the strategy of increasing the number of software developers at a rate of 20% a year.

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