SINGAPORE (THE BUSINESS TIMES) - Hyundai Motor on Tuesday (March 31) announced it is building an open innovation lab in Singapore to develop future mobility technologies for expansion into global markets.
The move is part of the South Korean carmaker's plans to transform itself into a smart mobility solutions provider.
Hyundai's new lab will be in the Jurong Innovation District, an advanced manufacturing hub developed by JTC Corporation.
Construction of the 28,000 square metre Hyundai Mobility Global Innovation Centre is expected to start in May this year and complete by the second half of 2022, with the project supported by Singapore's Economic Development Board.
In a statement, the carmaker said Singapore is an ideal location for its lab, thanks to the Republic's strong track record of open innovation, strategic location, competitive workforce, pro-business environment, and forward-looking economic policies.
The new lab will test out a small-scale electric vehicle production facility before creating an automated platform to manufacture smart vehicles. This platform, which will integrate artificial intelligence, the Internet of Things, digitalisation and robotics, will make automotive plants safer and greatly reduce the manpower required.
As part of this platform, the lab will test an on-demand production system, allowing customers to build their vehicles with a wider range of customisation options.
Hyundai will also use the lab to test out multi-modal mobility services, as well as on-demand shuttle and last-mile mobility via e-scooters.
It said it would review a potential collaboration on a pilot study for Singapore's Smart Nation initiative.
In addition, the company plans to work with "competitive local partners" to test innovative solutions for advanced mobility services, and conduct joint projects - as well as co-found research centres - with educational institutions such as Nanyang Technological University.