Hyundai Motor launches mobility service venture in Los Angeles

SEOUL, Nov. 15 (Yonhap) -- Hyundai Motor Group, South Korea's top automaker, said Friday it has launched a mobility service venture company in Los Angeles to expand its presence in the future mobility market.

Hyundai said MoceanLab will provide mobility services there, starting with its pilot carsharing service. It plans to expand the service from autonomous ridesharing to multimodal transportation, according to the company.

Hyundai said MoceanLab aims to reduce traffic and increase convenience of customers by offering various transit options in Los Angeles, which will host the 2028 Summer Olympics.

"More and more customers, including citizens of Los Angeles and tourists, will greatly benefit from MoceanLab as its service gradually covers a larger area of Los Angeles and diversifies its mobility services," Yun Kyoung-lim, an executive vice president at Hyundai Motor Group, said. "With such efforts, Hyundai Motor Group aims to lead the technology development for clean mobility."

MoceanLab is Hyundai's latest effort to transform itself into a mobility solutions provider.

This year, Hyundai made investments in car-hailing firms like Grab and Ola. It also formed a joint venture with Aptiv in September to focus on developing autonomous technology.

kdon@yna.co.kr
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