Hyundai Mobis hosts a technology conference at the Hyundai Mobis Technology Research Institute in Yongin, Gyeonggi-do as part of the MIT Industrial Liaison Program (ILP). (Photos: Hyundai Mobis)

Hyundai Mobis is embarking on a collaboration project with Massachusetts Institute of Technology (MIT) to speed up technology innovation on future cars.

Hyundai Mobis hosted a technology conference at the Hyundai Mobis Technology Research Institute in Yongin, Gyeonggi-do as part of the MIT Industrial Liaison Program (ILP) to explore future growth engines, the Korean automotive parts maker said on May 6.

Michael Schrage, a professor at the MIT Sloan School of Management, gave a lecture on next generation information technologies. Some 50 Hyundai Mobis officials, including Hyundai Mobis President Park Chung-kook, were present at the symposium. The participants shared the status of MIT’s future technology development, outcomes of research on digital solutions, and they also exchanged views on corporate innovation.

Early this year, Hyundai Mobis joined the MIT ILP to effectively cope with self-driving and connected car development. MI ILP is a support program where global corporations and MIT researchers mutually benefit from their collaboration.

The MIT LIP owns core proprietary technologies through which it earns 50 billion in yearly royalties. The program has a networking with about 1,700 startups launched by MIT alumni. It has been credited with having unmatched capabilities of commercializing new concept and preceding technologies.

On top of Hyundai Mobis, Korean and global major companies, including Samsung Electronics, LG Electronics, Hyundai Motor, BMW, and Honda has been participating in the MIT LIP. Hyundai Mobis. MIT introduces information and research results on a wide array of areas including ICT, new materials, innovative manufacturing, and healthcare to corporate partners while the companies consistently exchange technologies and information with MIT scholars. Hyundai Mobis plans to develop car systems by using advanced technologies owned by startups via the program.

Hyundai Mobis is allowed to look at MIT projects. Participants of the MIT ILP are given the chance to help them experience major technologies labs under the umbrella of MIT have already developed or are now developing. MIT operates about 300 research labs with some 3,000 high-level research manpower. Hyunai Mobis is considering conducting joint research on core technologies.

A view of Hyundai Mobis’s pavilion at the Electronics Show (CES) in Las Vegas in which a vehicle concept ‘M.VISION’ equipped with the “autonomous driving kit” was unveiled in January.