Hyundai Appoints Apple, Microsoft Veteran To Lead New Mobility Division: Reuters

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.