Hyundai makes an investment in Immotor to tap the huge Chinese market
Updated December 4, 2018
Earlier in the week, Immotor a Chinese e-scooter manufacturer announced that automobile giant, Hyundai Motor has made an investment of an undisclosed sum in the company.
By taking this initiative, The South Korean car giant said that it aims to co-develop personal mobility business in the vast Chinese market.
Immotor has its shop set in Shenzhen and was founded back in 2016, its innovative Immotor Go brand of foldable electric scooters with modular batteries is a product which became a real hit among Chinese citizens. As a result of which nearly 30 million electric two-wheelers are now being sold in China yearly.
In order to provide customers with even more efficiency Immotor’s core technology offers a system that can track battery status, deliverymen’s courses, and nearby charging station status. It can also additionally analyze data in real time.
Currently, the company offers battery swapping to delivery men for a monthly fee, battery swapping stations are easily accessible as there are nearly 500 of them spread in as many as 16 Chinese cities.
According to a report, it shows Hyundai’s plans for co-developing new last mile services as the company believes thatImmotor’s business has huge potential to grow in China.
The South Korean company has also built a data center in Guizhou, China and aims to capture the vast market for cars too. And to do so, Hyundai has already formed a partnership with Cisco and would be launching hyperconnected cars by the year 2019.
Earlier in the week, Hyundai launched a home-to-car AI service in a collaboration with SK Telecom, according to reports, this service would allow customers to start their cars while sitting at home by using voice commands