The Vehicle-to-X technology aims at increasing traffic safety by issuing automated warnings of hazardous situations such as slippery roads or other adverse weather conditions or traffic stalls. Through V2X communications, vehicles in the environments turn into a non-line-of-sight sensor working in all environments and weather conditions. Thus, they help prevent road collisions and avoid dangerous situations. In manned vehicles, V2X systems convey important information to the driver in the form of alerts and notifications and can also actuate the vehicle in dangerous situations. In autonomous vehicles, V2X complements existing sensors, allowing them to make more informed decisions as well as easing their interaction with other road users.
Prior to the current investment by Hyundai, Autotalks completed four funding rounds with a total of more than $80 million in investments. The current investment from Hyundai is not part of a funding round, but instead should be regarded as a strategic investment since Hyundai plans to explore new business opportunities within smart city infrastructure. While neither Hyundai nor Autotalks wanted to provide details on the investment amount, eeNews learned from sources close to the company that it is an amount in the million euro range. The move is said to be one of Hyundai’s first investments in Israel’s high-tech economy after the opening of an investment office in that country.