Hyundai Motor, KDB Earmark $66.6 Billion to Invest in Mobility Startups

By • on February 1, 2021

The Korea Herald reported that Hyundai Motor Group has partnered with state-run lender Korea Development Bank to create a fund of 74.5 billion won ($66.6 million) to support open innovation of the South Korean automaker giant and its supply chain. The fund primarily targets domestic startups dedicated to eco-friendly cars and smart cars, as well as companies with futuristic mobility technologies with regards to urban air mobility and purpose-built vehicles. This marks the second fund that derives from Hyundai Motor‘s open innovation platform “Zero1ne,” launched in 2018.

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