Hyundai and Kia Invest 475.3 Billion Won More in 42dot

Hyundai Motor and Kia are investing a combined 475.3 billion won (about 4,753 hundred million won) in 42dot, the software unit supporting the group's shift to software-defined vehicles (SDVs). Hyundai disclosed its participation on October 29 and Kia on October 30, in both cases for a rights offering to existing shareholders.

How the money is split

Hyundai will acquire 2,210,597 common shares for roughly 285.17 billion won. Kia will take 1,473,730 common shares for about 190.11 billion won. Together they will receive 3,684,327 shares, at 129,000 won per share, for a total of about 475.28 billion won.

Payment is due in two installments, in November 2026 and April 2027. The exact dates, amounts and share counts may change after consultation with 42dot and during the offering, for example if unsubscribed shares are reallocated.

Purpose and cumulative stake

Hyundai described the investment as participation in the offering of 42dot, which provides software for the group's SDVs. Kia gave the same rationale in its filing and said the aim is to acquire an equity stake.

Including this round, Hyundai's total investment in 42dot reaches 1.2205 trillion won and Kia's 797.24 billion won. Combined, the two carmakers will have put in about 2.0178 trillion won.

Both companies approved the investment at sustainability management committee meetings, Hyundai's on October 29 and Kia's on October 30. Seven independent directors attended Hyundai's meeting and five attended Kia's, all in full attendance, along with audit committee members from both companies.

The fresh capital is expected to speed up the group's SDV transition and the development of related software.