Hyundai Motor, which together with affiliate Kia Motors forms the world’s fifth-largest automaker, has seen the biggest gains in the number of filed patents over a period of half a decade, according to a new industry report.
The analysis of the global patent applications, recently released, has seen the South Korean carmaker closing down on the industry leader – Japan’s Toyota, also the biggest carmaker on the globe. The report, issued by Thomson Reuters IP & Science, acknowledged that connected and self-driving cars are gathering most of the steam – with automakers posting numerous patent fillings in the fields of telematics and driver assistance systems. The survey, titled “The State of Innovation in the Automotive Industry 2015,” broke down the trends into five crucial zones – propulsion, navigation, handling, safety and security, and entertainment. Hyundai proved to be a constant presence among the leaders of each segment, coming up third behind only Toyota and Germany’s Robert Bosch – the world’s largest auto parts supplier.
Hyundai, together with sister company Kia Motors has managed to reign fifth in global sales thanks to their affordable, stylish and well-equipped models – but experts say the duo is unable to better compete with global rivals because of the lack of cutting-edge technology. Now the report sees Hyundai’s patent applications more than doubling from 500 in 2010 to 1,200 in 2013, as the company seems to be a fast-follower in the field of technology as well. When it comes to the overall top ten rankings, Asian and German automakers dominated the patent fillings, with the only US exception being General Motors, which ranked seventh.
Via Automotive News