Hyundai Mobis to invest $25 mn in UK vehicle smart display firm

Hyundai Mobis Co., South Korea’s largest auto parts maker, said on Oct. 7 it will invest $25 million in a UK automotive smart display company in efforts to boost its vehicle infotainment business.

With the investment, Hyundai Mobis and Envisics Ltd. will jointly develop an augmented reality head-up display (AR HUD) for self-driving cars with an aim to mass produce the product by 2025, the Korean company said in a statement.

The auto parts making unit of Korea’s two top carmakers -- Hyundai Motor Co. and Kia Motors Corp. -- said early this year it is entering the global HUD market, designating vehicle infotainment, autonomous driving and electrification as the company’s growth drivers.

Unlike traditional HUDs, an augmented reality head-up display projects graphics further out in front of the driver’s field of vision, interacting with and marking real world objects.

Hyundai Mobis said Envisics is the only manufacturer that can mass produce hologram-based AR HUDs. The Korean company also has its own hologram-based AR HUD technology.

INVESTMENT IN FUTURE MOBILITY

According to market research firm IHS Markit, the global AR HUD market is forecast to grow to 12 million units in 2030 from an estimated 1 million in 2025.

In recent years, Hyundai Motor Group has increased investment in overseas startups with advanced future mobility technologies, as the group seeks to take the lead in next-generation vehicles.

In September last year, Hyundai and Ireland-based auto parts startup Aptiv entered into a $4 billion joint venture to develop a self-driving platform.
Hyundai Mobis said it has invested 1 trillion won in research and development projects related to future mobility this year.

Write to Sun A Lee at suna@hankyung.com
Edited by In-Soo Nam