Hyundai can buy 42dot Korean autopilot developer

Hyundai can buy 42dot Korean autopilot developer

There are reports in the media that Hyundai Motor is negotiating to increase the share of the South Korean company 42dot, which is developing autonomous driving platforms without the use of lidar or its acquisition.

The co-founder and CEO of 42dot Chang-Hyung Sun owns 36.19% of the shares as of December 2021. The rest of the startup shares belong to venture companies and strategic investors, including LG Electronics, SK Telecom, Lotte Rental, CJ Logistics and LIG Nex1.

It was founded by Chang-Hyun Sun in 2019 and developed a software solution for Aquit autonomous driving, as well as an autonomous mobile and logistical TAP platform capable of providing transport and logistics services via the Urban Mobile Operating System mobile operating system using unmanned vehicles, drones and robots.

As part of the Hyundai and 42dot partnership, the car manufacturer created a "transport as a service" unit in April 2021, which became CEO of Sun Chang-hyun.

According to KED Global, the launch of 42dot was evaluated during negotiations to sell about 600 billion won, slightly higher than its market value of 510 billion won following the A-series financing round last October, and Hyundai is expected to invest about 400 billion won in the 42dot deal.