Hyundai Motor, Kia pledge 18-trillion-won investment in software development

Hyundai Motor and Kia pledged to invest a total of 18 trillion won ($12.6 billion) by end of 2030 into software development.

Part of the investment will be used to enhance software used for software defined vehicles (SDVs), connected-cars and autonomous driving technologies, according to Hyundai Motor Group on Wednesday.

SDVs are cars with over-the-air (OTA) systems, a wireless technology used to update the software of cars and add the latest features. With more SDVs, Hyundai Motor Group says it will be able to frequently update existing cars to satisfy the rapidly changing demands of customers.

The investment will also be used to invest in IT start-ups and research centers. Hyundai Motor and Kia also plan to recruit various IT personnel from abroad such as in the United States and Europe.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]