Hyundai Mobis said it planned to increase R&D expenditure to 10% of its auto parts revenues by 2021 from 7% at present, as it looks to become a global leader in autonomous vehicle technology.
The company also planned to increase staffing at its autonomous vehicle systems division from 600 to 1,000 in this period, as it commercialises level 3 and higher self driving technology by 2022 for use on highways. This level does not require driver intervention.
A key focus for the company is to develop self driving sensors critical to reading and evaluating the presence of other road users and surroundings, used in radar-, camera- and LIDAR-based systems. The supplier is also strengthening its capabilities through partnerships with leading overseas firms, academic institutions and startup companies.
It has already agreed to develop and produce five different radar systems with 360 degree detection capabilities by 2021 in partnership with German technology companies SMS and ASTYX.
