[Alpha Biz= Kim Jisun] SEOUL, August 11 — Hyundai Motor Group announced that its global software arm, 42dot, will carry out a KRW 500.3 billion (USD 370 million) capital increase to strengthen competitiveness in next-generation mobility technologies.
The capital injection is part of a three-year capital expansion plan (2023–2025) approved last year. As with the first round in May 2023 (approximately KRW 367 billion) and the second round in January 2024 (approximately KRW 378 billion), Hyundai Motor Company and Kia Corporation will participate as strategic investors.
Proceeds from the rights issue will be used to advance software-defined vehicle (SDV) technology, invest in agentic artificial intelligence (AI) capable of independent decision-making and action, build GPU infrastructure for autonomous driving, and secure top global talent.
42dot aims to lead Hyundai Motor Group’s SDV strategy through to mass production by 2027. “This capital increase is a strategic decision focused on securing long-term technology sovereignty and global talent, rather than immediate financial returns,” a company spokesperson said.
While Hyundai Motor Group sees investment in 42dot as essential to establishing technological independence for its SDV transition, the challenge remains that the startup — founded in 2019 — is still in testing and pilot service phases, with no major commercial achievements to date.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
