Hyundai invests in Chinese e-scooter maker Immotor
Hyundai Motor has invested an undisclosed sum into Chinese e-scooter maker Immotor, the company announced.
The South Korean car giant said the aim was to co-develop personal mobility business aimed at the Chinese market.
Shenzhen-based Immotor, which offers its Immotor Go brand of foldable electric scooters with modular batteries, was founded in 2016. Around 30 million electric two-wheelers are now being sold in China every year.
Immotor's core technology can track deliverymen's courses, battery status, and nearby charging station status, and can analyse data in real time for maximum efficiency.
The company has over 500 battery swapping stations in 16 Chinese cities and currently offers battery swapping to deliverymen for a monthly fee.
Hyundai said it will also co-develop new last mile services as Immotor's business has huge potential for growth in China.
The South Korean tech giant also announced that, together with Mirae Asset, it is investing 27.5 billion won ($24 million) into Mesh Korea. The Korean startup was founded in 2013 and services Vroong, also a last mile service for deliverymen on bikes.
Hyundai has built a datacentre in Guizhou, China and is eyeing the potentially huge connected car market there.
The auto giant is collaborating with Cisco to launch hyperconnected cars in 2019.
In South Korea, the company launched a home-to-car AI service with SK Telecom this week, which will allow customers to start their cars from their home using voice commands.
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