Hyundai: The carmaker aiming to become a tech firm
By Justin Harper
For a few weeks this year, South Korean carmaker Hyundai was dusted with the Apple magic.
Last month Hyundai let slip that it was in talks with the maker of the iPhone to co-operate on a car project, but this week it said the talks were over.
However, this is by no means the end of Hyundai’s push into technology.
The car firm has been investing heavily in new technology with a string of partnerships, acquisitions and investments within the tech space.
Its takeover of robotics firm Boston Dynamics last year was a clear indication of the direction it is taking – into cutting-edge technology.
The whole auto industry has been forced to innovate as the move towards electric cars and autonomous vehicles accelerates.
Hyundai has been criticised in the past for lagging behind rivals in adopting emerging technologies but is fast catching up, sealing a string of alliances and investments with technology groups recently.
“Hyundai has a different set of motivations and more incentive to push the limit. They have been a lot more aggressive in reinventing themselves,” says Dale Hardcastle, a partner at consultancy firm Bain.