The core of Chung Eui-sun’s future mobility strategy is ‘robots’

[MoneyS Report - Hyundai Motor Group running at a high speed(2)] Declare the era of 'meta mobility'… Applying ‘robot technology’ to everything that moves

Hyundai Motor and Kia performed well in 2021 amid COVID-19. The global automotive semiconductor shock could not keep them from growing. The sluggish domestic sales were made up for by overseas sales, which led the earnings to grow. Hyundai managed to perform jaw-dropping performance in North America where it was once dubbed as the ‘latecomer’, for the first time leaving Honda behind.

The secret to such growth can be found in the broadest strides of Hyundai Motor Group Chairman Chung Eui-sun, who is in his third year in office. Under the leadership of Chairman Chung, who put forward the new concept of ‘meta mobility’, the Hyundai Motor Group is moving forward this year without letup.

Hyundai Motor Group Chairman Chung Eui-sun is on stage with the robot dog 'Spot' to announce the robotics vision at 'CES2022'. /photo courtesy=Hyundai Motors

 

Order of writing

1. Hyundai·Kia beat Honda in the US

2. The core of Chung Eui-sun’s future mobility strategy is ‘robots’

3. Hyundai and Kia to grow more this year

 

Hyundai Motor and Kia continued their growth last year, selling 6.7 million units in the global market, despite the shortage of semiconductors for automobiles last year. In 2020, domestic sales increased while it suffered the drop in overseas sales in the aftermath of COVID-19, but in 2021, the overseas market revives and leads to better-than-expected turnout in overall sales performance.

 

It has been viewed that CEO's on-site management played a role in this sales growth. Chung Eui-sun, chairman of Hyundai Motor Group, who went on overseas business trips as often as possible in the midst of the Covid19's recurrences, to deal with the local situation, while looking for new opportunities for the future. In particular, he personally participated in 'CES 2022' (International electronics fair) held in January this year, unfolding the vision for the 'Robotics' field, and presented the ideas that have been emphasized so far.

Earlier in 2020, Chairman Chung stressed the importance of UAM by declaring "50% of Hyundai Motor Group’s future business will be automobiles, 30% will be UAM, and the robotics for the remaining 20%." Also, he announced that it would embark on the UAM market, at CES in 2020. 

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Completion of Hyundai Motor Group’s three future growth axes through ‘robots’

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Hyundai Motor Group acquired Boston Dynamics last year, which has the world's best robot technology, and started to target the robot market in earnest. /photo courtesy=Hyundai Motors

At this year's CES, Chairman Chung said, "Robotics is inseparable from human life," and, "As if carrying a cell phone every day, people will someday carry a 'spot' (Boston Dynamics' four-legged walking robot)."

According to Hyundai Motor Group, the global robot market is likely to grow from $44.4 billion last year to $177.2 billion by 2025, at an average annual growth rate of 32%.

 

Last year, Hyundai Motor Group bought an 80% stake in Boston Dynamics, an American robotics company, estimated to be worth $1.1 billion in total from Softbank Group. Amid the 'robot competition' of global automakers, it was evaluated that Hyundai Motor Group took over a company with the best robot technology and rose to the top tier of the related field overnight.

Boston Dynamics is showing off its technological prowess through Spot, a service robot, Atlas, a humanoid robot with the shape and movement most similar to humans, and Stretch, a logistics robot for rapid logistics handling.

Currently, Spot is highly appreciated for its versatile usages. Spot, armed with various sensors and cameras, can walk on four legs like an animal and perform various tasks on behalf of humans. Hyundai Motor explained that it can be used in natural disaster areas, radioactive contamination areas, and high temperature or extreme cold conditions. At Kia Autoland Gwangmyeong, it is put on patrol at dawn and is responsible for factory safety.

 

Wearable robots such as VEX, developed by Hyundai Motor Company, are also expected to assist humans with physical disabilities and enhance human capabilities. Japan's Honda has been researching and developing the first humanoid robot 'ASIMO' for over 20 years, expanding its scope into wearable robots and using it's application to medical areas.

Wearable robot technology is characterized by being directly applied to the human body, making it easier to lift heavy objects and reducing reliance on wheelchairs and walking aids. Through this, it is possible to reduce the possibility of physical injury to workers in the industrial field.

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‘The era of meta-mobility’ close at hand

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A virtual diagram of the MoT (Mobility of Things) ecosystem in which all things move freely with robotics technology / Photo courtesy=Hyundai Motor Group

Chairman Chung Eui-sun emphasizes that "meta mobility" can come into being when robotics technology is applied to mobility. He explained that, when smart devices are connected with the metaverse platform, users can experience a new level of movement at the same pace, in which human moves in the virtual world.

Hyundai Motor’s vision for robotics is embodied in “meta mobility” that innovatively expands the user’s mobility experience, “MoT” (Mobility of Things) ecosystem that gives mobility to objects, and “intelligent robots” for humans. Metaverse is a compound word of meta, meaning virtual and transcendence, and universe, meaning the real world, which is a mixed reality in which virtual and reality interact.

Chairman Jung believes that where robot technology meets mobility, new values ​​can be created. He added, “Robotics is no longer a distant dream, but a reality. We will explore solutions to pave the way for 'meta mobility' based on robotics, and continue challenging without limits for this.” He stressed, "Hyundai Motors' vision for robotics will enable infinite movement and progress of mankind."