Hyundai Motor Group has completed its creation of a global innovation network with the establishment of Hyundai CRADLE Beijing. With sites in Seoul, Berlin, Tel Aviv, and Silicon Valley, the China office is the fifth center in the network, which exists to explore and utilize various innovation opportunities and business models in China to contribute the growth of HMG’s new business.
As the group’s open innovation and corporate venturing business, Hyundai CRADLE invests extensively in promising global startups and creating partnerships that boost the development of prospective services, systems, and complementary research opportunities.
CRADLE Beijing will construct interactive business and investment collaborations with leading ICT companies, start-ups, government institutions, key universities, investment institutions and other strategic partners in China, while contributing to global efforts to foster ‘disruptive innovation’. Fostering ‘disruptive innovation’ with Chinese leading ICT companies, start-ups, government institutions, universities, and other strategic partners is core to new CRADLE office.
The Group has a track record for future technology partnerships in China. In 2018, it co-published plans for a hydrogen energy fund with Tsinghua University, while in March this year it invested in Deep GLINT, a promising Chinese AI startup.
Peter Yang, Head of Hyundai CRADLE Beijing commented: “As the world moves from an information technology era to one focused on data technology, CRADLE Beijing will setup an open innovation interactive platform in China, fully interact with local innovation networks, CRADLE Beijing will be a harbor for sharing innovation solutions that originated in China around the world.”
Source: Press Release