Partnerships to develop purpose-built vehicles (PBVs) to build an eco-friendly logistics system are growing between the automotive industry and logistics companies. This is due to rapidly increasing demand for electric trucks instead of diesel trucks in line with a global carbon neutrality initiativ
On the 11th, the global AI data platform AIMMO, led by CEO Oh Seung-taek, hosted a solo conference, the 'AIMMO AI Tech Summit,' at CES 2024 in Las Vegas. The event received positive reviews for the launch of its new data cycle process, '4Core.'AIMMO's innovative product, '4Core,' epitomizes the indu
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain BUY, target price of KRW220,000 From Nov 13 to 18, we participated in HMC’s U.S. marketing tour (Boston, Las Vegas, Los Angeles) to look into the progress of the company’s major businesses in the
The author is an analyst of Shinhan Investment Corp. He can be reached at yjjung86@shinhan.com. -- Ed. 2022 CEO Investor Day keywords: EV, PBV, OPKia unveiled its mid-to-long term strategy at its first CEO Investor Day event in two years. The keywords of the event were accelerating electrification (
Hyundai Motor Group unveiled the design of its first robotaxi on Aug. 31. The model based on its Ioniq 5 is slated to be exhibited at IAA Mobility 2021, which will kick off in Munich on Sept. 7. The first Level 4 robotaxi in the world is expected to be used for ride-hailing services in the United St
SK Inc.’s stakes in global mobility startups Grab in Southeast Asia and Otonomo Technologies in Israel are spiking in value as these companies are pushing for IPOs.Since 2017, SK Inc. has focused its investments in companies specializing in ride- sharing, car-sharing, and mobility technology. The in
Global investment firm The Carlyle Group Inc. announced on Feb. 18 that the firm has agreed to invest US$200 million in Kakao Mobility, the largest Mobility-as-a-Service (MaaS) platform in South Korea. Equity for this transaction will come from Carlyle Asia Partners V.Launched in 2015 as a business
Lime, the world’s leading operator of shared electric vehicles, announced on Jan. 28 that it will add electric mopeds to its growing platform of e-bikes and e-scooters. Lime’s e-mopeds will enable riders to make any urban trip under five miles with safe, affordable and sustainable light electric veh
Uber Technologies, a U.S. ride-hailing company, will invest more than US$150 million in SK Telecom’s mobility businesses.Uber said in a joint statement with SK Telecom that it plans to invest US$50 million in T-map Mobility Co., a mobility business spinoff from SK Telecom to be launched on Dec. 29,
SK Telecom introduced on July 29 "Goyohan Mobility," a ride-hailing service designed for deaf drivers, in cooperation with Coactus. a social venture operating "Goyohan Taxi," a taxi service driven by deaf drivers. Coactus has been operating Goyohan Taxi since June 2018. To make customers feel more c
The Vision Fund, led by SoftBank CEO Masayoshi Son, has finally decided not to invest in Tada, a ride-hailing service, after a year-long review. The fund has reportedly been considering investing 200 billion won to 300 billion won in Tada. But as tensions among the taxi industry, political circles a
The operator of van-hailing app Tada has been indicted on charges of violating the transportation law, becoming the latest victim of Korea’s stifling regulations on mobility startups.Mobility-related regulations remain unchanged despite the Korean government’s repeated pledges of reform. As a result
CODE42, an autonomous transportation-as-a-service startup established in March this year, announced on Oct. 1 that it has successfully raised 30 billion won (US$25 million) in Pre-A funding, with investment by major Korean conglomerates including Kia Motors, SK Telecom, LG Electronics, and CJ Corp.
The Korean government needs to ease regulations to reinvigorate the startup ecosystem, startup promotion organizations said in a policy recommendation report released on Aug. 20The report says that while Korea’s startup investment environment has improved significantly, high regulatory barriers impe
Mirae Asset Group is accelerating investment in Southeast Asian startups with great growth potential, following its investment in Grab, a ride-hailing service provider in Southeast Asia, last year.Investment banking (IB) industry sources said on Jan. 16 that Mirae Asset Group invested 8.3 billion wo
Hyundai Motor Co. and its affiliate Kia Motors Corp., the two biggest carmakers in South Korea, announced on Nov. 7 that they have decided to invest US$250 million (284 billion won) to buy stakes in Southeast Asian ride-hailing firm Grab Inc.Including the upfront investment of US$25 million (28.4 bi
Mass Vehicle Leger (MVL), a Korean company that provides ride-hailing service TADA in Singapore, has gathered 50,000 users and 12,000 drivers one year after the service launch in July 2017, chasing right behind the top service provider, Uber.MVL's TADA, which means "let's ride" in Korean, ha
Mirae Asset Financial Group and South Korea’s top internet portal Naver Corp., which have been in partnership, are to make a large investment in Singapore’s Grab, the largest ride-hailing firm in Southeast Asia. This is their second investment in the mobility industry overseas after jointly investin
Hyundai Motor Co. has been seeking to make an aggressive investment and development by forming a strategic partnership with global leading companies in order to lead the car sharing market, one of the mainstays of the future mobility market.South Korea’s top automaker announced on January 11 that it
Apple’s iPhone 7, which is expected to be released in September this year, is unlikely to put up a good show in advanced markets, such as North America and Europe, according to a market research firm.The report released by KT Economy & Management Research Lab on May 24 said “The iPhone 7 will not be