[Asia Economy Reporter Minwoo Lee] Hyundai AutoEver's stock price is on the rise. The news that Hyundai Motor Group is merging its IT-related affiliates centered on Hyundai AutoEver to strengthen software appears to have acted as a positive factor.
As of 10:13 AM on the 14th, Hyundai AutoEver's stock price recorded 107,500 KRW, up 5.39% compared to the previous trading day. Shortly after the market opened, it even rose to 122,000 KRW, up 19.61%.
The news of Hyundai Motor Group's affiliate restructuring is interpreted to have had a positive impact. On the 11th, Hyundai AutoEver, Hyundai MnSoft, and Hyundai Autron each held board meetings and resolved to merge the three companies. Hyundai AutoEver is responsible for Hyundai Motor Group's IT services. Hyundai MnSoft supplies navigation systems, and Hyundai Autron provides vehicle embedded platforms. Hyundai AutoEver plans to complete the merger by April 1 (the merger date), following approval at an extraordinary general meeting of shareholders scheduled for February 25 next year.
Through this, the company aims to become a world-class mobility software specialist. It is expected to encompass urban air mobility (UAM), robotics, and smart cities in the future. Jinwoo Kim, a researcher at Korea Investment & Securities, explained, "Hyundai Motor Group will unify the software development entities through the merger of the three companies, standardize the development system, and standardize the system."
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