Market Chatter: Hyundai Motor to Launch Parking Robot Demonstration Project at Hillstate The Wave City Apartment in Siheung

MT Newswires Live13:23

Hyundai Motor (KRX:005380) will launch a parking robot demonstration project at an apartment complex in Siheung as part of its efforts to develop a smart parking management system in South Korea, Yonhap News reported Monday.

As part of the government's smart city regulatory sandbox program, the South Korean automaker will form a consortium with affiliates including Hyundai Wia and Hyundai Engineering & Construction for the project at Hillstate The Wave City in Siheung, southwest of Seoul.

Under the project, two sets of Hyundai Wia parking robots will be deployed at the apartment complex, with 1,796 residential units, scheduled to open for residents next year.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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