- Hyundai Motor Co HYMTF has appointed Apple Inc AAPL and Microsoft Corp MSFT veteran, Song Chang-Hyeon, as the Chief of the newly launched Transportation-as-a-Service (TaaS) division to oversee the mobility business for Hyundai and Kia Corp, Reuters reports.
- Chang-Hyeon was also the founder of autonomous transportation service startup, 42dot, which included Hyundai Motor and Kia as its early investors.
- Hyundai and Kia aim to boost alliances with global mobility companies to support its shift from a manufacturer into a wider mobility service provider.
- Hyundai has planned to rationalize existing mobility services, introduce new services employing user data and explore business prospects.
- Price action: HYMTF shares closed higher by 1.32% at $50 on Thursday.
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