Press release

Hyundai Mobis Expands Its Global Base for Open Innovation

Sponsored by Businesswire

On the 4th, Hyundai
(KRX:012330), which is strengthening its open cooperation with
other entities in preparation for a paradigm shift to future vehicles,
announced the launch of M. Cube in China’s Shenzhen, a mecca for Chinese

M. Cube is the name of Hyundai Mobis’s open innovation center intended
to discover and invest in global start-ups that have new, future-car
technologies. M. Cube is the second open innovation center that Hyundai
Mobis has launched, after unveiling the first location in Silicon Valley
last November.

To better respond to Shenzhen’s rapidly changing start-up environment,
Hyundai Mobis has appointed Peter Wang, who previously worked for
Kuang-Chi Group, as director of M. Cube. An expert in strategic
investment who has served as director of the innovation center at
Shenzhen’s leading start-up Kuang-Chi Group, Peter Wang is expected to
play a key role in discovering innovative companies based on his broad
network of contacts.

Shenzhen’s M. Cube will be tasked with discovering start-ups that
distinguish themselves in a variety of innovation areas, including
autonomous navigation, artificial intelligence, robotics, and big data.
Hyundai Mobis plans to sign partnership agreements with such companies
to improve the competitiveness of the overall portfolio of its core
parts and to achieve substantive technological advancement through
thorough follow-up management.

As a means to secure promising new technologies, Hyundai Mobis will be
setting up a system that will allow it to independently conduct various
tasks from market trend research to start-up discovery and investment,
as well as feasibility studies. Investing in promising start-ups in
Shenzhen is so fierce and competitive that a call for investors usually
closes within two to three weeks, and accordingly, the measure aims to
secure opportunities for collaboration with such companies through quick

To that end, Hyundai Mobis plans to ascertain an optimal form of
collaboration by organically linking its existing Shanghai research
institute and its research division in Shenzhen.