Hyundai Motor invests 285.2 billion won in 42dot... “Spurring internalization of SDV technology”

(Seoul = Yonhap News) Reporter Jang Ha-na = Hyundai Motor Company is making additional investments in 42Dot, the global software center of Hyundai Motor Group.

Hyundai Motor Company announced on the 29th, "We are participating in the paid-in capital increase allocated to shareholders of Forty2dot, which provides software (SW) to Hyundai Motor Group's software-oriented vehicles (SDVs). We plan to acquire 2,210,597 shares of Forty2dot's common stock by participating in this paid-in capital increase."

The investment amount was 285.167 billion won, calculated by multiplying the number of shares acquired by the price per share of 129,000 won.

The investment is scheduled to be paid in installments in November and April next year.

Including this investment, the total amount invested by Hyundai Motor Company in 42Dot is 1.2205 trillion won.

Hyundai Motor Company acquired Forty2Dot, an autonomous driving startup, in 2022 and is accelerating the development and commercialization of vehicle software technology in all areas of SDV and autonomous driving.

Hyundai Motor Company currently holds a 58.95% stake in 42Dot.

Earlier this year, CEO Park Min-woo, an expert in self-driving technology from Tesla and NVIDIA, was hired as head of the group's Advanced Vehicle Platform (AVP) and CEO of 42dot.

Hyundai Motor Company said, "We decided to participate in paid-in capital increase to accelerate the group's SDV transition and strengthen Forty2dot's role as a global software innovation center. We plan to actively utilize Forty2dot's software and autonomous driving capabilities to accelerate the establishment of an SDV system and internalization of related technologies."