Siemens, Hyundai to Team Up on Car Navigation Systems
July 08, 2005
According to a report by the German newspaper Handelsblatt, Siemens and Hyundai will launch an automotive electronics joint venture. The joint venture will focus on navigation, audio and monitoring systems. Its first move will probably be to buy Autonet, which is a subsidiary of Hyundai and is valued at 260 to 270 million Euros.