News Release
Hyundai Unveils Robot-Operated EV Plant in Singapore
MarketJar
After beating General Motors and Ford in US electric vehicle (EV) sales in Q3, Hyundai Motor Group plans to keep its momentum going in the market. Hyundai officially launched its new state-of-the-art Hyundai Motor Group Innovation Center Singapore (HMGICS) this week 1, a “smart urban mobility hub” run by robots, robot dogs and artificial intelligence (AI). With the aid of 200 robots, the facility has the capacity to produce 30,000 customizable EVs annually, showcasing a revolutionary cell-based production system. The robots play a crucial role, handling 50% of all tasks, including assembly, inspection, production, and 60% of component processing, ordering, and transport, allowing human workers to focus on more creative and strategic tasks. The tech hub also provides a unique immersive experience that includes flexible vehicle customization, test drives, VR factory tours, and even a “smart farm” where robots cultivate vegetables. While robotics integration is an ongoing trend in the automotive industry, security and defense is another sector increasingly using robots to bolster human ability. North America, a leader in robotics innovation and a major market, is increasingly adopting security robots across various industries due to their reliability and effectiveness in surveillance. 2 The rise in defense spending and the need to address threats like terrorism, piracy, and border security challenges are driving the market expansion. The Security Robot Market is valued at $14 billion in 2023 and is projected to reach$26.11 billion by 2028, growing at a compound annual growth rate (CAGR) of 13.57% during the forecast period. These robots, now equipped with advanced technology, are becoming essential in safeguarding public spaces without seeming threatening, thus gaining cultural acceptance. At the forefront of the robot security market is Knightscope, Inc. (NASDAQ:KSCP), a security technology company deploying autonomous security robots (ASRs) and blue light emergency communication systems across America. A Pioneer in Autonomous Security Robots Knightscope 's fully autonomous security robots (ASRs) are designed to prevent, detect, and report security threats. Its groundbreaking technology has proven effective in fighting crime and improving the situational awareness of security and public safety professionals. In recent months, Knightscope, Inc. (NASDAQ:KSCP) has inked significant deals, securing a $1.25 million contract for 145 devices with Rutgers, The State University of New Jersey and initiating a pilot test of its K5 security robots in Manhattan's subway stations in collaboration with the New York Police Department (NYPD) and the Metropolitan Transportation Authority (MTA). Other notable clients Knightscope has added to its roster in recent months include Penn Entertainment for 43 of its gaming and racing properties nationwide, San Francisco Bay Area Rapid Transit (BART) and Port Authority of New York and New Jersey. 3 The Port Authority of New York and New Jersey just expanded its contract with Knightscope, integrating the Knightscope Emergency Management System (KEMS) Professional service to oversee 11 K1 Call Boxes installed on the George Washington Bridge. This system uses cloud-based technology to monitor the operational health and status of the devices, providing real-time error detection and diagnostics, and compiling system performance data. For those interested in learning more about Knightscope 's innovations and ongoing projects, additional information can be found by exploring the ' Rise of the Robots ' section on the website of Knightscope, Inc. (NASDAQ:KSCP). Footnotes: [1] https://www.bloomberg.com/news/articles/2023-11-21/hyundai-unveils-showpiece-robot-powered-ev-plant-in-singapore [2] https://www.mordorintelligence.com/industry-reports/security-robots-market [3] https://pressreach.com/featured-news/knightscope-lands-1-25-million-contract Disclaimer 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. has or expects to receive from Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) two hundred and sixty-six thousand USD for 89 days (63 business days). 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. 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November 22, 2023 12:50 PM Eastern Standard Time
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