Following its “Unlock the Software Age” global forum earlier this evening, Hyundai Motor Group has outlined a detailed roadmap to transform its entire lineup of vehicles (gas and electric) across all brands into Software Defined Vehicles (SDVs) by 2025. This new era of vehicle technology will allow HMG to constantly evolve along with its vehicles, which will be able to stay up-to-date via over-the-air updates. To support this new era, the Group has already committed to spending 18 trillion won (~$12.5 billion) to establish a new Global Software Center and accelerate SDV development.
By now you’re likely well aware of Hyundai Motor Group and its three current automotive marques – Hyundai, Kia, and Genesis. The IONIQ brand of EVs still currently exists under the Hyundai marque as well as the larger HMG banner.
There’s a lot to unfold here following the group’s recent livestream from South Korea, so we will skip the history lesson for today and hop right into the future. As EVs especially develop toward a new era that’s much more dependent on semiconductors and software than moving parts, a new era of mobility is beginning to emerge.
Hyundai Motor Group states that it recognized this years ago and has been working behind the scenes to ensure its current and future lineup of vehicles across all brands remain not just functional, but technologically relevant. Over-the-air (OTA) updates are already common among most automakers these days, but most of those capabilities are quite limited. For instance, many automakers can only push through simple updates to infotainment systems like the latest maps in navigation.
Only a few current automakers, such as Tesla and NIO for instance, are able to offer software and firmware updates over-the-air, allowing for added performance through an internet connection.
The nucleus of Hyundai’s presentation today was this focus on connectivity and transitioning to Software Defined Vehicles that can not only be remotely upgraded, but exist as part of a cutting-edge world of automotive telecommunication that provides owners with personalized services, safety, and even software subscriptions.
Hyundai can then use that connected car data for future mobility applications, such as Purpose Built Vehicles, Advanced Air Mobility, robotaxis, and even robots.
By 2025, Hyundai Motor Group looks to transform each and every one of its vehicles to fit into this new category of Software Defined Vehicles.
Source: Hyundai Motor Group
HMG expects 20 million Software Defined Vehicles by 2025
According to the release, all new vehicles from Hyundai Motor Group from 2023 onward will be equipped with OTA capabilities. This will include all HMG vehicles, not just EVs. By 2025, Hyundai states that it expects 20 million to be registered to its Connected Car Services (CCS) around the globe.
In addition to being able to upgrade the performance and functionality of a given vehicle anywhere at any time, Hyundai drivers will also be able to take advantage of Feature On-Demand (FoD) services next year as well. This will allow customers to pick and choose certain features or functions on their vehicle to further customize it to meet their specific needs. HMG plans to gather data generated by the 20 million connected vehicles and use it to further develop personalization services.
To roll out this ambitious arsenal of Software Defined Vehicles, Hyundai Group outlines five floors of the “software house” (seen above) that is the foundation of the new era in mobility.
Vehicle Platform
Electrical/Electronics Architecture
Software Platform
Data Platform
Future of Mobililty
Hyundai’s roadmap starts on the ground floor and works its way up. Beginning in 2025, HMG will introduce two new EV platforms – eM and eS – built upon its Integrated Modular Architecture (IMA). eM is currently being developed to support EVs across all segments, and Hyundai says it will deliver 50% more range on a single charge compared to current EVs. It is also being built with Level 3 and higher autonomous driving in mind. So when that technology does become more mainstream, new Hyundai vehicles can already holster it. Same goes for OTA updates.
The eS platform is more of a traditional “skateboard” design exclusively for Purpose Built Vehicles, offering modular, tailor-made solutions to businesses in segments like logistics, rideshare, and last-mile deliveries.
Hyundai shared that its IMA technology will deliver a new level of standardization and modularity to the design and assembly of its EVs. By standardizing components like batteries and motors that currently vary by model, HMG says it can streamline its production processes and expand its lineup.
The same thought process applies to the vehicle controller, which previously required a vehicle’s software system to be upgraded separately for each one. By integrating the controller, future EVs will be more efficient in that the lower-level components can be managed by higher-level controllers, thus reducing the overall number required.
Another huge factor will be the group’s Connected Car Operating Systems (ccOS), which will be applied to all controllers within the vehicle to maximize hardware performance by way of top-tier computing power. Hyundai shared that it is currently collaborating with NVIDIA to load an optimized ccOS onto an NVIDIA DRIVE semiconductor.
Lastly, NVIDIA may or may not end up collaborating on Hyundai’s third-generation integrated controller, but when it does arrive, the company states it will become the basis for expansion into mass-producing Level 3 autonomous EVs and eventually commercializing Level 4 and Level 5 autonomous driving capabilities… “in due course.”
As one would surmise, a future with Software Defined Vehicles includes a lot of data, so a platform that can combine and process it throughout a vehicle’s life cycle will be vital. That’s why it’s the fourth floor of Hyundai Group’s “Software House.” Eunsook Jin, executive vice president and head of the ICT innovation division at HMG, explained:
Hyundai Motor Group’s data platform will not only be simply for driving. It will also play an important role in enhancing the convenience and diversity of the customer’s mobility experience by engaging throughout the vehicle’s entire life cycle. Going forward, we’ll also help create a new mobility ecosystem, connecting cars with other mobility devices, based on data connectivity and scalability.
The achieve all these goals to truly bring an entire lineup of Software Defined Vehicles to life, Hyundai will erect a Global Software Center where much of the $12.5 billion will be spent by 2030. The funds will also go toward other vital sectors like its R&D headquarters. While the Group appears confident in its current role in the automotive industry, it appears to just be getting started. Per the release:
As the Group embarks on a new challenge to transform mobility and meet the needs of customers in the future, it will also continue to develop its award-winning models to meet the needs of customers today. The appeal of the Group’s customer offerings has been consistently affirmed, as demonstrated recently by the range of awards bestowed on EV models from the Hyundai, Kia and Genesis brands by critics and media across the globe. Already today, the Group’s cutting-edge SDV technologies, such as Infotainment, Connectivity and ADAS are proving highly popular with customers, and as the technology rapidly develops further, a whole new world of possibilities will open up. This will pace the Group at the forefront of providing entirely new mobility solutions as society changes, transportation means evolve, and software-defined vehicles become commonplace.
There’s a lot more to unfold surrounding Hyundai’s future of Software Defined Vehicles, so we recommend checking out the company’s full release.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Trump’s Big Beautiful bill becoming law and going after EVs and solar, Tesla, Ford, and GM EV sales, Electrek Formula Sun, and more
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A new Tesla prototype was spotted again, reigniting speculation among Tesla shareholders, even though it’s likely just a Model Y, potentially a bit smaller, and the upcoming stripped-down, cheaper version.
It sparked a lot of speculation about it being the new “affordable” compact Tesla vehicle.
There’s confusion in the Tesla community around Tesla’s upcoming “affordable” vehicles because CEO Elon Musk falsely denied a report last year about Tesla’s “$25,000” EV model being canceled.
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The facts are that Musk canceled two cheaper vehicles that Tesla was working on, commonly referred as “the $25,000 Tesla” in early 2024. Those vehicles were codenamed NV91 and NV92, and they were based on the new vehicle platform that Tesla is now reserving for the Cybercab.
Instead, Musk noticed that Tesla’s Model 3 and Model Y production lines were starting to be underutilized as the Company faced demand issues. Therefore, Tesla canceled the vehicles program based on the new platform and decided to build new vehicles on Model 3/Y platform using the same production lines.
We previously reported that these electric vehicles will likely look very similar to Model 3 and Model Y.
In recent months, several other media reports reinforced this, and Tesla all but confirmed it during its latest earnings call, when it stated that it is “limited in how different vehicles can be when built on the same production lines.”
Now, the same Tesla prototype has been spotted over the last few days, and it sent the Tesla shareholders community into a frenzy of speculations:
Electrek’s Take
As we have repeatedly reported over the last year, the new “affordable” Tesla “models” coming are basically only stripped-down Model 3 and Model Y vehicles.
They might end up being a little smaller by a few inches, and Tesla may use different model names, but they will be extremely similar.
If this is it, which is possible, you can see it looks almost exactly like a Model Y.
It’s hard to confirm if it’s indeed smaller because of the angle of the vehicle compared to the other Model Ys, but it’s not impossible that the wheelbase is a bit smaller – although it’s hard to confirm.
Either way, the most significant changes for these stripped-down, more affordable “models” are expected to be cheaper interior materials, like textile seats instead of vegan leather, no heated or ventilated seats standard, no rear screen, maybe even no double-panned acoustic glass and a lesser audio system.
As previously stated, the real goal of these new variants, or models, is to lower the average sale price in order to combat decreasing demand and maintain or increase the utilization rate of Tesla’s current production lines, which have been throttled down in the last few years to now about 60% utilization.
If this trend continues, Tesla would find itself in trouble and may even have to close its factories.
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CANNES — Wall Street’s new plumbing is being built on Ethereum and this week its architects took over the same French Riviera villas and red carpet venues that host the Cannes Film Festival in May.
The Ethereum Community Conference, or EthCC, took over the beachside town that was swarming with crypto founders, developers, and some of the institutional giants now building atop the infrastructure.
The crypto elite climbed the iconic red-carpeted steps of the Palais des Festivals — a cinematic landmark now repurposed as the stage for Ethereum’s flagship European event.
“The atmosphere this year was palpable in Cannes,” said Bettina Boon Falleur, the powerhouse behind EthCC for the past seven years. “The prestige of the location, combined with the quality of talks, has reinforced Ethereum’s stature and purpose in the wider ecosystem.”
Private parties sprawled across cliffside estates and exclusive resorts, but the conversations were less about price action and more about the blockchain’s evolving role as the back-end of global finance.
EthCC, now in its eighth year, has tracked Ethereum’s trajectory from scrappy experiment to institutional backbone.
“That impact was unmistakable this year,” Falleur said. “From Robinhood embracing decentralized finance infrastructure via Arbitrum to local governments like the City of Cannes exploring deeper integration with the crypto economy.”
Indeed, one of the boldest moves came this week from Robinhood, which became the first publicly traded U.S. company to launch tokenized stocks on-chain.
At a product showcase held inside a Belle Époque mansion overlooking the sea, Robinhood unveiled a sweeping new crypto strategy — including the ability for European users to trade tokenized U.S. stocks and ETFs via Arbitrum, a Layer 2 network built on Ethereum.
The announcement helped push Robinhood stock past $100 for the first time, capping off a week of fresh all-time highs and a more than 30% rally since being snubbed by the S&P 500 during a recent rebalance.
Inside the Palais des Festivals, ETHCC draws founders, developers, and institutions into the same halls that host the world’s biggest film premieres — this time, for the future of finance.
MacKenzie Sigalos
Ether, the token native to the Ethereum blockchain, was up nearly 6% on the week and several public equities tied to the blockchain have rallied alongside it.
BitMine Immersion Technologies, a company that mines bitcoin, gained more than 1,200% since announcing it would make ether its primary treasury reserve asset. Bit Digital, which recently exited bitcoin mining to “become a pure play” ethereum staking and treasury company, gained more than 34% this week. And SharpLink Gaming, which added more than $20 million in ether to its balance sheet this week, jumped more than 28% on Thursday.
Ether ETF inflows are rising again too — a sign that institutional investors are warming back up.
Ether is still down more than 20% this year and lags far behind bitcoin in market cap and adoption. But funds tracking ETH have seen two straight months of mostly net inflows, according to CoinGlass data. Still, ether ETFs total just $11 billion — compared to $138 billion in bitcoin ETFs.
Institutions aren’t betting on Ethereum for hype — they’re betting on infrastructure.
Even as prices stall and the network faces headwinds from slower base layer revenues and faster rivals like Solana, the momentum is shifting toward utility.
“Ethereum is getting plugged into these core transactional systems,” Paul Brody, global blockchain leader at EY, told CNBC on the sidelines of EthCC. “Investors, savers, people moving money — they are going to start shifting from some of the older mechanisms of doing this into Ethereum ecosystems that can do these transactions faster, cheaper, but also very importantly, with significant new functionality attached to it.”
Crypto founders and developers climb the iconic red-carpeted steps of the Palais des Festivals — a familiar backdrop for the Cannes Film Festival, now repurposed for Ethereum’s flagship European event.
MacKenzie Sigalos
Deutsche Bank recently announced it’s building a tokenization platform on zkSync — a faster, cheaper blockchain built on top of Ethereum — to help asset managers issue and manage tokenized funds, stablecoins, and other real-world assets while meeting regulatory and data protection requirements.
Coinbase and Kraken are also racing to own the crossover between traditional stocks and crypto.
Coinbase has filed with the SEC to offer trading in tokenized public equities, a move that would diversify its revenue stream and bring it into more direct competition with brokerages like Robinhood and eToro.
Kraken announced plans to offer 24/7 trading of U.S. stock tokens in select overseas markets.
BlackRock‘s tokenized money market fund, BUIDL — launched on Ethereum last year — offers qualified investors on-chain access to yield with redemptions settled in USDC in real time.
Stablecoins, meanwhile, continue to serve as the backbone of Ethereum’s financial layer.
“The builders and contributors at EthCC aren’t chasing the next bull run,” Falleur said, “they’re laying the groundwork to make Ethereum home for the next billion users.”
Even as newer blockchains tout faster speeds and lower fees, Ethereum is proving its staying power as a trusted network.
Vitalik Buterin, Ethereum’s co-founder, told CNBC in Cannes that there is an assumption that institutions only care about scale and speed — but in practice, it’s the opposite.
Ethereum co-founder Vitalik Buterin delivers a keynote at ETHCC, laying out the network’s next steps — and its values test — as institutional adoption accelerates.
EthCC
“A lot of institutions basically tell us to our faces that they value Ethereum because it’s stable and dependable, because it doesn’t go down,” he said.
Buterin added that firms often ask about privacy and other long-term features — the kinds of concerns that institutions, he said, “really value.”
Tomasz Stańczak, the new co-executive director of the Ethereum Foundation, said institutions are choosing Ethereum for the same core reasons.
“Ten years without stopping for a moment. Ten years of upgrades, with a huge dedication to security and censorship resistance,” he said.
He added that when institutions send orders to the market, they want to be “absolutely sure that their order is treated fairly, that nobody has preference, that the transaction actually is executed at the time when it’s delivered.”
Those guarantees have become increasingly valuable as stablecoins and tokenized assets move into the mainstream.
Ethereum’s core values — neutrality, security, and censorship resistance — are emerging as competitive advantages.
The real test now is whether Ethereum can scale without losing its values.
“We don’t just want to succeed,” Buterin said from the mainstage of the Palais this week. “We want to be something that is worthy of succeeding.”
He said the hope is that future generations will look back and see a network that truly delivered openness, freedom, and permissionless access to the masses.
White-clad guests dance poolside at the rAAVE party in Cannes.
MacKenzie Sigalos
But the week didn’t end in the conference halls, it closed with tradition. On the balcony of Villa Montana, overlooking the Bay of Cannes, the rAAVE party lit up.
White-clad guests sipped cocktails as the DJ spun by the pool, haze curling from smoke machines.
This year, Chainlink co-founder Sergey Nazarov and DeFi icon Stani Kulechov, founder of Aave, stood atop the balcony overlooking the crowd and the light-dotted skyline of Cannes.
It was a fitting snapshot of the momentum behind Ethereum’s institutional rise and symbolic of Web3’s shift from niche experiment to financial mainstay.