BUSINESS

Hyundai launches Future Mobility Venture MoceanLab

&NewLine;<p>Hyundai&NewLine;Motor Group &comma; on November 14&comma; established MoceanLab&comma; a mobility service&NewLine;venture&comma; as part of the Group’s larger initiative to create a sustainable&comma;&NewLine;connected future&period;<br>&NewLine;MoceanLab will provide mobility services in the&NewLine;City of Los Angeles&comma; and expand its services to autonomous ridesharing&comma;&NewLine;shuttling&comma; multimodal transportation&comma; and personal mobility&period;<br>&NewLine;After a comprehensive thorough review&comma; Hyundai&NewLine;Motor Group identified Los Angeles as the city to launch the MoceanLab&period; The&NewLine;opportunities posed by LA’s large and diverse population&comma; challenges with&NewLine;traffic congestion&comma; and demonstrated commitments to transportation innovation&NewLine;and sustainability&comma; including LA Mayor Eric Garcetti’s initiatives and&NewLine;leadership&comma; made it the ideal city for MoceanLab&period; Hyundai Motor Group plans to&NewLine;explore and integrate new mobility innovations – such as micromobility and&NewLine;multimodal transportation – and ensure the effectiveness and growth of mobility&NewLine;services throughout LA&period;<br>&NewLine;A statement made available to OpenLife stated that&NewLine;&OpenCurlyDoubleQuote;Hyundai Motor Group will introduce innovative mobility platforms and demonstrate&NewLine;diverse mobility services in Los Angeles&comma;” said Kyounglim Yun&comma; Executive Vice&NewLine;President of Hyundai Motor Group&period; &OpenCurlyDoubleQuote;More and more customers&comma; including citizens&NewLine;of LA and tourists&comma; will greatly benefit from MoceanLab as its service&NewLine;gradually covers a larger area of LA and diversify its mobility services&period; With&NewLine;such efforts&comma; Hyundai Motor Group aims to lead the technology development for&NewLine;clean mobility&period;”&nbsp&semi;<br>&NewLine;Mocean Car share&comma; a pilot program from&NewLine;MoceanLab&comma; will be a part of the City of Los Angeles’ car sharing permit pilot&NewLine;program offered by the Los Angeles Department of Transportation &lpar;LADOT&rpar; and Los&NewLine;Angeles County Metropolitan Transportation Authority &lpar;LA METRO&rpar;&period; The Group will&NewLine;utilize up to 20 Hyundai IONIQ Plug-in Hybrid Electric vehicles for the pilot program&comma;&NewLine;set to start at the end of 2019&period; The goal is to transition the fleet to fully&NewLine;electric vehicles with a gradual expansion of a combined 300 vehicles of&NewLine;Hyundai Motor Company and Kia Motors Corporation&period;<br>&NewLine;MoceanLab will further expand beyond the initial&NewLine;car sharing pilot program&period; In anticipation of the 2028 Los Angeles Olympics&comma;&NewLine;MoceanLab aims to alleviate traffic and increase convenience&period; Ultimately&NewLine;connecting customers to mass transit options and reduce traffic congestion&NewLine;around the city&period; This includes services offering autonomous ridesharing&comma;&NewLine;shuttling&comma; multimodal transportation&comma; and personal mobility&period;<br>&NewLine;MoceanLab displayed its car sharing and shuttle&NewLine;technology at the 2019 CoMotion LA event&period; CoMotion LA has given the world a&NewLine;glimpse of the new urban future&comma; presented by leading technologists&comma; transport&NewLine;operators&comma; government officials and venture capitalists since 2017&period; The event&NewLine;was attended by over 2000 major government and industry officials including&NewLine;Mayor Eric Garcetti&comma; and Nina Hachigian&comma; Deputy Mayor of International Affairs&NewLine;of LA&period;<br>&NewLine;Hyundai Motor Group is continuing its&NewLine;developments in mobility services through active establishments of joint&NewLine;ventures and partnerships&period; In September&comma; the Group formed a joint venture with&NewLine;Aptiv&comma; focused on the efficient development of driverless systems using&NewLine;world-leading autonomous technology&period; <&sol;p>&NewLine;

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