July 3, 2018 / 10:25 AM / 4 months ago

Hyundai invests in Israeli auto tech firm Autotalks

FILE PHOTO: The logo of South Korean car manufacturer Hyundai is seen at a car dealer in Dietlikon, Switzerland October 11, 2016. REUTERS/Arnd Wiegmann/File Photo

TEL AVIV (Reuters) - Hyundai Motor Co said on Tuesday it was partnering with Autotalks, an Israeli provider of vehicle to everything (V2X) communication technology for improving road safety.

Hyundai said it invested in Autotalks to accelerate the development of the next generation chipset for connected cars.

The South Korean carmaker did not disclose the size of the investment but an Israeli industry source said it was several million dollars.

Hyundai said it is expanding partnerships for connectivity technology vital to autonomous driving.

In manned vehicles, V2X systems convey important information to the driver in the form of alerts and notifications while in autonomous vehicles it complements existing sensors, allowing them to make more informed decisions.

Prior to Hyundai’s investment, Autotalks had raised more than $80 million.

Reporting by Tova Cohen; Editing By Steven Scheer

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