Yandex and Hyundai Mobis Sign Deal for Autonomous Vehicles

Yandex (NASDAQ:YNDX) a company who launched the first fully autonomous tax-service in Europe last year, signed a memorandum of understanding (MOU) with Hyundai Mobis to develop control systems for autonomous vehicles. Among the top ten largest manufacturer of automotive components in the world, Hyundai Mobis and Yandex plan to further develop driverless prototypes, mapping, speech and navigation services as part of the agreement.

As quoted in the press release:

“Our self-driving technologies are unique and have already proven their scalability. Yandex’s self-driving cars have been successfully driving on the streets of Moscow, Tel Aviv and Las Vegas, which means that the fleet can be expanded to drive anywhere. It took us just two years to go from the first basic tests to a full-fledged public robotaxi service. Now, thanks to our agreement with Hyundai Mobis, we will be able to move even faster, ” says Arkady Volozh, CEO of Yandex.

Yandex first began testing self-driving prototypes in the Spring of 2017, by mid-2018 Yandex launched Europe’s first fully autonomous taxi service. The robotaxi service operates in Russia’s tech hubs of Innopolis and Skolkovo throughout winter weather conditions with just a safety engineer in the passenger seat.  Yandex has also expanded its self-driving internationally, with testing in Israel and demonstrations at CES 2019 in Las Vegas, Nevada.

Click here to read the full press release.