SEOUL, South Korea – Hyundai AutoEver, a subsidiary of Hyundai Motor Group, announced today that it has formed a joint venture with India's MapmyIndia to develop high-quality maps for the burgeoning Southeast Asian automotive market. The new joint venture, named Tera Link Technology, is based in Jakarta, Indonesia.
The partnership aims to capitalize on the rapid growth of the automotive industry in Southeast Asia, where the demand for in-vehicle navigation systems has skyrocketed. Each country in the region has unique road conditions, regulations, and driver behaviors, making customized mapping solutions essential.
Tera Link Technology will initially focus on developing maps for Indonesia, Thailand, Vietnam, the Philippines, Malaysia, and Singapore. The company plans to expand its coverage to neighboring countries like Brunei and Myanmar in the future.
"By providing high-quality maps, we aim to offer consumers a superior driving experience and help global automakers enhance their competitiveness in the navigation sector," said Dong-kwon Seo, Executive Director of the Navigation Business Division at Hyundai AutoEver.
This strategic move aligns with Hyundai Motor Group's broader expansion plans in Southeast Asia. As a key supplier of automotive software within the group, Hyundai AutoEver is seeking to diversify its revenue streams and reduce its reliance on internal sales.
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