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Hyundai spins off 4 in-house startups

Published: 04 Mar. 2025, 18:15

SARAH CHEA
[email protected]

Hyundai Motor Group's headquarters in southern Seoul [HYUNDAI MOTOR GROUP]

Hyundai Motor has spun off four in-house startups with promising technologies and prospects such as solar panels.

They were part of Hyundai’s ZERO1NE Company Builder program, an initiative the automaker has been running since 2000 that helps its employees establish startups beyond the automotive sector.

The four startups include Solarstic, a company that makes light solar modules; ROAI, an automatic solutions specializing in manufacturing; HVS, a developer of materials that prevent humidity and corrosion; and Flexon, a firm that makes eco-friendly materials for auto parts.

Each of the selected startups will be offered 300 million won ($205,000) in aid from Hyundai Motor. The startups will have one year to develop their business, after which the automaker decides whether to leave them as spinoffs or subordinate them into one of the carmaker’s departments.

In the case of an actual spinoff, Hyundai Motor invests at least 100 million won into the company.

Employees will be able to be rehired by Hyundai for three years.

BY SARAH CHEA [[email protected]]