Hyundai to spend $424mn to build AI research centre

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Hyundai to spend $424mn to build AI research centre
Hyundai to spend $424mn to build AI research centre

The AI research centre, tentatively named the Boston Dynamics AI Institute, will be headed by Marc Raibert, founder and former chief of Boston Dynamics, a U.S. robotics company Hyundai acquired last year

To build an (artificial intelligence) AI research centre in the US to bolster its edge in robotics technology, an area it cites as a key future growth driver, Hyundai Motor will spend $424 million, the company said on Friday.

Hyundai Motor, Kia and Hyundai Mobis — Hyundai’s three key auto affiliates — will invest $211.9 million, $127.1 million and $84.7 million, respectively, for the AI research centre that will be located in Boston, Hyundai’s regulatory filing showed.

The institute will “invest resources across the technical areas of cognitive AI, athletic AI and organic hardware design, with each discipline contributing to progress in advanced machine capabilities,” Hyundai said in a release on the website.

The AI research centre, tentatively named the Boston Dynamics AI Institute, will be headed by Marc Raibert, founder and former chief of Boston Dynamics, a U.S. robotics company Hyundai acquired last year.

Led by Chairman Euisun Chung, Hyundai Motor, has heavily been investing in the development of automotive software and related mobility technologies, including Software Defined Vehicles (SDVs), a concept that the vehicle’s software capability will define the quality of the car and driving.

In an effort to accelerate efforts toward an expansion into self-driving, electrification and other advanced auto technologies, Hyundai will also establish a new software center in South Korea, the firm said in a separate comment.

As part of the plan, Hyundai said it has recently acquired 42dot, a Seoul-based autonomous driving software and mobility platform startup, for 274.6 billion won ($211.1 million).

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