South Korean automaker Hyundai Motor has teamed up with U.S.-based Cisco to develop connected car technologies.
The technology partnership comes after this month’s announcement that the car company would be developing ‘hyper-connected intelligence’ vehicles in an effort to join the global race towards driverless systems.
The tie-up follows a series of similar deals between automakers and tech groups looking to design and build future driving technologies. Earlier this month Toyota extended a partnership with the University of Michigan to build artificial intelligence (AI) systems for driverless cars. The initiative is the Japanese firm’s third investment in U.S. university research projects.
In March, General Motors confirmed its acquisition of autonomous software company Cruise Automation for $1 billion (approx. £700 million). The Silicon Valley-based firm, founded by former Twitch exec Kyle Vogt in 2013, designs auto-pilot technologies which can be built into regular cars to transform them into driverless vehicles.
This is the first tech collaboration for Hyundai and forms part of its road map to expand investment into research and the development of connected car systems, such as smart remote maintenance, in-vehicle networks, big data and analytics, and security technologies.
The announcement at the beginning of April detailed: “Hyundai…will bring the future of connected cars closer by co-developing connected car technologies through ‘Open Innovation’ collaborations with global companies. The connected car roadmap will concentrate on industry-leading research and development to foster new talents that will change the way customers interact with their cars and the world around them.”
The carmaker is currently exploring new growth areas as it struggles with disappointing sales in China and other Asian markets – last year Hyundai recorded its lowest annual profit in five years. It is also expected that the company will see weak first quarter results for 2016, amid China’s economic downturn and a shift in consumer preference for cheaper, domestic sports car brands.