Saneun-Hyundai Motor Join Hands to Invest in Future Mobility Venture Companies... 74.5 Billion KRW Deal
Expansion of Future Mobility Investment through 74.5 Billion KRW Venture Fund Formation
Promotion of Multifaceted Cooperation Including Commercialization Linkage and Industrial Ecosystem Information Sharing
[Asia Economy Reporter Park Sun-mi] KDB Industrial Bank and Hyundai Motor Group have joined hands to jointly discover and invest in venture companies that will lead the future of the mobility industry.
On the 1st, Industrial Bank announced that it has completed the formation of an open innovation fund worth 74.5 billion KRW with Hyundai Motor Group.
The main investment targets of this fund are venture companies focused on eco-friendly vehicles and smart cars, and it also covers venture companies engaged in cutting-edge mobility technologies such as Urban Air Mobility (UAM) and Purpose Built Vehicles (PBV).
Starting with the formation of this fund, the two companies plan to pursue multifaceted business cooperation.
Specifically, they plan to combine their venture investment capabilities and mobility technological expertise to jointly invest in new technology companies, share information on future mobility industry trends, and collaborate in various fields including business commercialization.
Through this fund, Industrial Bank expects an open innovation effect that expands the participation of leading domestic conglomerates in the venture ecosystem and supports traditional automobile parts suppliers in restructuring their businesses toward future automotive parts.
Hyundai Motor Group plans to discover promising startups and invest in them through this fund to internalize innovative technologies necessary for future vehicles and continuously explore new business opportunities.
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An Industrial Bank official stated, “This collaboration is significant not only because it supports the discovery of future growth engines for Korean automakers and parts suppliers during the global transformation of the mobility industry, but also because it provides momentum for private capital in the automotive industry to flow into digital and green new deals.”
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