April 27, 2024

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[THE INVESTOR] Hyundai Motor Vice Chairman Chung Eui-sun met with Terry Gou, chairman of Foxconn Technology Group, during his recent visit to China, raising the possibility of a tie-up for connected car technology.

The two chiefs met on Nov.9 and talked about the prospects of cooperation on internet-connected car business, which both firms are closely eyeing, local news reported on Nov. 15. 

The meetup is in line with the increasing auto-tech tie-up trend to connect cars to the internet, as the race to develop self-driving cars revs up.

Earlier this year, Hyundai announced that it is forming an alliance with American tech giant Cisco Systems for developing in-vehicle network solutions, another key technology in connected cars that allows high-speed transfer of large amounts of data.

Hyundai Motor recently signed a deal to establish a big data center -- the basis for developing connected cars -- in Guizhou province, China, where Foxconn has also established a data center.

Foxconn, widely known for assembling the bulk of Apple’s iPhone, has been recently eyeing the auto business by investing heavily into auto startups in China.

By Ahn Sung-mi (sahn@heraldcorp.com)