Hyundai Mobis announced on Wednesday that it made a 29 billion won ($25 million) investment in UK-based augmented reality head-up display (AR HUD) company Envisics, in a as it aims to expand its network in the growing car infotainment industry.
Established in 2010, Envisics, specializes in dynamic holographic technology in the field of augmented reality head-up display (AR UHD). The provider uses big data analytics, computer vision, and machine learning to develop hardware that integrates into vehicles.
The AR HUD feature provides users with enhanced “dashboards” that could display maps, navigation guidance, real-time road conditions and warnings. The system provides drivers and passengers, especially in autonomous vehicles, improved convenience and safety.
“Hyundai Mobis will jointly develop autonomous driving-specialized AR HUD with Envisics, targeting mass production by 2025.”
-Cho Sung-hwan, executive vice president and CTO at Hyundai Mobis
Cho added that Hyundai Mobis would “proactively present the next-generation AR HUD solutions to global carmakers for increased safety and convenience to avoid distracting drivers.”
Currently, Envisics is the only company with the technological skills in manufacturing HUDs built on dynamic holography. The company also enjoys leadership globally in the field of augmented reality head-up displays.
Envisics uses advanced hologram applications to provide a wide software-defined viewpoint without needing other optical devices.
Aggressive Investments in Future Car Technologies
The AR HUD industry exists in its early market stage but could grow into a major component for automobile systems in the future. The market is expected to grow by an average of 12 percent yearly by 2025 according to market research companies. The AR HUD market could increase quickly from one million in 2025 to 12 million by the year 2030.
Hyundai Mobis amasses investments in future car technologies like electrification and autonomous driving despite economic constraints during the COVID-19 pandemic.
In the last three years, the Hyundai Mobis actively invested in the Velodyne, a leading developer of lidar sensors for autonomous vehicles cars. The South Korean company also collaborated with Ireland-based self-driving car solutions provider, Aptiv, with the project Motional.
Additionally, Hyundai Mobis completed its construction of three new automobile parts and components manufacturing facilities in South Korea.
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