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Hyundai Motor said on Thursday it will develop a moon-exploration mobility "Rover" as it seeks to morph into a future mobility solutions provider.

In July last year, Hyundai Motor signed a memorandum of understanding with the country's six aviation research institutes, including the Korea Aerospace Research Institute and the Korea Automotive Technology Institute, for the project, the company said in a statement.

Hyundai and the institutes are aiming to collect minerals, make an environmental analysis, and carry out other scientific projects when the Rover succeeds in landing on the moon's south pole, it said.

"The creation of the lunar exploration mobility development model not only reflects this goal, but also shows our ambition to achieve tangible results in the face of significant challenges. With the rover's development, we are moving beyond land, sea and air mobility to expand into space mobility," said Yong Wha Kim, EVP and Head of R&D Planning & Coordination Center of Hyundai Motor and Kia.

On Thursday, the South Korean carmaker unveiled the concept image of the Rover, which will weigh up to 70 kilograms, reports Yonhap news agency.

The maker of Sonata sedans and Santa Fe SUVs expects to complete the Rover's development model in the second half of next year.

It aims to introduce Rover's final version in 2027.