The Korea Herald reports that Hyundai Mobis, the auto parts division of Hyundai Motor Co., has entered the telematics business by unveiling a voice-operated wireless telecommunications device for drivers and passengers.

The company’s Cartronics Institute yesterday introduced the Exride terminal for telematics services that allows drivers and passengers to use the Internet while in a moving vehicle.

The newspaper also said that the Exride terminal, which can be operated by voice commands, offers more than 20 features including radio, television, navigation, telematics, a CD player, an MP3 player and voice mail, according to the company.

Hyundai Mobis said that it took them three years and 10 billion won ($8.5 million) to develop Exride, which runs on Microsoft Corp.’s Windows operating system designed for in-vehicle electronic devices, the Herald said.

The device can also check the vehicle for possible glitches and notify the driver about any problems.

The auto components maker said that the machine can be installed on any type of vehicle and will become standard equipment on Hyundai Motor and Kia Motors commercial vehicles with loading capacities of 5 tons or more.

Hyundai Mobis projected that Korea’s telematics market would reach 850 billion won in 2005 from around 100 billion won currently.

The company said it aims to achieve annual sales of 250 billion won by 2005 to grab a 30 percent share of the market.