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Blockchain Press Releases

Hyundai Mobis Launches ‘Parabolic Motion’ Glove Box, Engineered for Electric Vehicles



  • The advent of the ‘Parabolic Motion Glove Box,’ tailored for the increased interior space of electric vehicles…The first batch to be delivered to Kia EV9
  • Inspired by aircraft overhead bin, storage capacity is enhanced to over 8L, and user convenience features such as knee collision prevention are improved
  • Addressing the future mobility market’s demand for ‘space innovation,’ fortified approach with user-centric, cutting-edge technology

SEOUL, South Korea, Aug. 2, 2023 /PRNewswire/ — Hyundai Mobis (KRX 012330) provides a new type of glove box specifically designed for electric vehicles, to Kia’s large electric SUV, the EV9. This innovative development notably includes an expanded glove box capacity and user-friendly design, which minimizes the risk of knee collision when the glove box is opened.

Hyundai Mobis revealed on 2 that it had pioneered a ‘Parabolic Motion Glove Box,’ a concept inspired by the aircraft overhead bin. ‘Parabolic Motion’ alludes to the parabolic trajectory, mirroring the path followed by overhead airplane luggage compartments. The moniker underscores its distinct motion pattern, a stark contrast to the straightforward rotation or covers opening type glove boxes found in traditional vehicles.

Given that the design and composition of recently developed electric vehicles deviate from those of conventional internal combustion vehicles, Hyundai Mobis has engineered a glove box suited explicitly for electric vehicles. Eliminating an engine room in electric vehicles broadens passenger space, facilitating an expansion in the glove box’s storage capacity.  

In automotive terminology, a ‘glove box’ is a compartment near the passenger’s knee, typically storing items such as car manuals, tissues, sunglasses, and foldable umbrellas. It is one of the most oversized compartments available in a car for storing small items.

In its quest to optimize the glove box for electric vehicles, Hyundai Mobis has significantly enlarged its storage capacity. Conventional internal combustion vehicles typically offer a glove box capacity of around 5.5L. However, by adopting the parabolic motion approach, Hyundai Mobis has increased this capacity to over 8L. Consequently, this increase allows the storage of more and more oversized items than traditional internal combustion vehicle glove boxes. Apart from boosting capacity, usability has been enhanced, including simplified item retrieval and insertion and reducing knee collision instances when the glove box is opened.

Hyundai Mobis’ latest technological breakthrough originated from an in-house idea contest. This inventive concept won a gold medal in the 2021 internal idea contest, eventually evolving into a tangible product that led to mass production. The proposition of developing a glove box mechanism optimized for electric vehicles initially garnered much attention. Since 2019, Hyundai Mobis has been fostering a culture of voluntary and creative R&D among its employees, having already accumulated over 3,200 ideas to date as of the first half of this year.


Choi Jae-seob, Head of Trim Module Engineering Sector at Hyundai Mobis, emphasized the importance of reinterpreting passenger space for future mobility, stating, “We are committed to the continuous development of bespoke technologies that prioritize user experience.”

Media Contact 
Jihyun Han: [email protected]
Choon Kee Hwang : [email protected]

Hyundai Mobis CI

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Blockchain Press Releases

HTX Appoints Singapore National Goalkeeper Hassan Sunny as Chief Safeguarding Officer




SINGAPORE, June 15, 2024 /PRNewswire/ — HTX, a leading cryptocurrency exchange, proudly announces the appointment of Singapore national football team goalkeeper Hassan Sunny as Chief Safeguarding Officer.

“The partnership between HTX, the ‘People’s Exchange’, and Hassan Sunny, the ‘People’s Goalkeeper’, is a perfect match,” said Justin Sun, Member of the HTX Global Advisory Board. “Together, we will work to ensure the safety and security of user assets in the ever-evolving crypto world. Just as Sunny fearlessly protects his goal on the field, HTX is committed to protecting every user’s assets with the same determination and resolve, providing the safest and most reliable investment environment possible.”

Sunny also expressed his excitement about joining the HTX family, stating “I am excited to be part of HTX. I can’t wait to embark on this journey with the team.”

Sunny has been called a national hero in China for his outstanding performance in the final group match of the first round of the 2026 FIFA World Cup Asian Qualifiers against Thailand on June 11th. Despite facing relentless attacks, Sunny made an incredible 11 saves, including a crucial one in stoppage time. Singapore ultimately lost the match 1-3, but their result helped China qualify for the next round at the expense of Thailand.

About HTX:


Founded in 2013, HTX has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. HTX serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies – “global development, technology drives development, and technology for good” underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.


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New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund




Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.


The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.


The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Riot Platforms Acquires 14% Stake in Bitfarms Ltd.




Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.


Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.


Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.


The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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