Hyundai adding 300 electric vehicles to LA car-sharing venture

SEOUL, Jan. 7 (UPI) -- Hyundai is deploying some 300 electric vehicles to boost its car-sharing business in Los Angeles.

The South Korean automaker announced the news Monday, adding that Ioniq electric vehicles and other models from its sister firm Kia will make up the fleet.

Hyundai established its pilot MoceanLab venture in L.A. last year with 15 Ioniq plug-in hybrid electric cars.

The startup has provided car-sharing services around four train stations in the city, mostly to a small group of testers. The service will be open to the public in March, according to Hyundai.

Hyundai, the world's fifth-largest carmaker together with Kia, has been working to find a future growth engine in such areas as mobility services and autonomous driving.

The company channeled $2 billion last year into a joint venture with Ireland-based driver-less vehicle startup Aptiv.

Hyundai strives to develop an autonomous driving platform by 2022 and to start operating self-driving vehicles in 2023 before commercial production in the next year.

The two ventures are in tandem with Hyundai's midterm plan called "Strategy 2025," designed to shift the firm's business structure to mobility services and mobility devices.

"For our smart mobility solutions, we considered what truly matters in cities and in people's lives," Hyundai Executive Vice Chairman Chung Eui-sun said. "Our goal is to help build dynamic human-centered future cities and continue our legacy of progress for humanity."