Hyundai Motor Group said it had invested a further KRW2bn (US$1.5m) in local startup BOS Semiconductors, a company established last year focused on the design and development of system on chip (SoC) products tailored for the automotive industry.

The automaker made an initial investment last August in the fabless chip designer, which is seen as highly competitive in key areas such as high performance, low power semiconductor design technology important for automotive safety and reliability, and in autonomous driving systems.

HMG has invested in BOS Semiconductors through the Simple Agreement for Future Equity (SAFE) approach, where funds are provided to startups whose valuation is difficult to determine initially.

HMG aims to strengthen its collaboration with BOS Semiconductors in order to step up the development of customised vehicle semiconductors for use in electric vehicles (EVs) and autonomous vehicles.

The investment is in line with HMG’s stated aim of transforming into a smart mobility provider. The automaker has a number of collaborations and partnerships in the field of future mobility, including its Motional joint venture with Aptive.

At its Open Innovation Tech Day earlier this month HMG said it had invested KRW1.3trn (US$1bn) in 200 startups globally since 2017, mostly in mobility services, powertrain electrification and zero emissions, connectivity, artificial intelligence (AI) and autonomous driving, to strengthen its future mobility business.

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