Hyundai Mobis engineers test Hyundai Motor vehicle's autonomous driving system at their work room in Seoul, on May 11. Courtesy of Hyundai Mobis

Hyundai Mobis has signed a memorandum of understanding (MOU) with Vector of Germany for the joint development of an AUTOSAR-based (AUTomotive Open System ARchitecture) software platform, which is optimized for the global automobile market, the company said Friday.

AUTOSAR is a development partnership of automotive interested parties such as automakers, parts makers and IT companies, which aim to create global standards for vehicle software.

Vector is a premium member company of AUTOSAR, which is headquartered in Stuttgart, Germany, and is a leading company in vehicle software. It is currently supplying software development tools and platforms to major global automakers and parts makers in Europe and North America.

Recently, global automakers have been requesting parts suppliers to apply the AUTOSAR-based software platform and the demand for their products is on the rise.

When parts suppliers make their software platform based on AUTOSAR's standard, development time can be reduced and it is easy to apply as a derivative.

For this reason Hyundai Mobis has entered a business partnership with Vector which has experience in supplying standardized software platforms. The Korean firm's client companies have been purchasing high-tech electronic components equipped with AUTOSAR-based software platform apart from its existing hardware parts.

Hyundai Mobis and Vector will first install the software program that was jointly developed and is based on AUTOSAR's standard, in next-generation parking systems, autonomous driving sensors and infotainment systems.

"Through this strategic partnership, we will increase our global competitiveness and quality reliability in the software sector, while actively promoting the company's transition from a traditional parts maker to a software company that leads the future of mobility," a Hyundai Mobis official said.