Seoul Robotics Captivates Attention from Global Automakers
Seoul Robotics, which proved its technological capabilities through BMW, is reportedly in discussions to supply its software to eight global automakers.
According to the automotive industry on the 22nd of August, BMW adopted Seoul Robotics’ industrial autonomous driving software, “Level 5 Control Tower,” in 2022. Over the subsequent three years, there has not been a single reported accident. Observing this success, eight major global automakers are launching pilot projects to implement the technology and are nearing formal contract agreements.
A representative from Seoul Robotics commented, “We cannot disclose specific details,” but industry insiders anticipate tangible results in the second half of this year.
Currently, over 80% of Seoul Robotics’ revenue comes from overseas markets. The company achieved a revenue of 3 billion KRW (approximately $2.5 million) last year, with a gross profit margin of 55%. However, due to significant investments in research and development (R&D), the company is operating at a loss.
The industry is paying close attention to how automakers worldwide are eager to adopt Seoul Robotics’ technology. There is speculation that the company, after securing contracts with several global automakers, could debut on the KOSDAQ stock exchange in the second half of next year.
Seoul Robotics’ industrial software, “Level 5 Control Tower,” allows vehicles without autonomous driving capabilities to operate as if they are self-driving.
Typically, newly manufactured vehicles go through a delivery process called "taksong," which refers to the transportation of vehicles from the factory to distribution points or customers. After assembly, cars are gathered in a parking lot at the factory. Export vehicles are transported to ports and loaded onto ships, while domestic vehicles are delivered to customers via transport trucks. During this process—moving from the production line to the parking lot and from the parking lot to ships or trucks—Seoul Robotics’ “Level 5 Control Tower” technology is utilized.
Traditionally, drivers must physically enter vehicles and manually drive them throughout these stages. However, with Seoul Robotics’ technology, newly manufactured cars can autonomously travel from factories to ports without drivers.
Seoul Robotics operates on a revenue-sharing model, generating income from automakers each time a vehicle is delivered using its system.
An industry expert stated, “Seoul Robotics has gained the attention of automakers worldwide because it is the only domestic company capable of flawlessly implementing autonomous driving technology, even under harsh weather conditions like heavy snow or rain, without requiring safety personnel in the driver or passenger seats.”
The content above is a translation of the original source. To view the original content, please click the link below.
