Hyundai Motor, Aptiv set up JV to present production-ready self-driving platform 2022

Sep 23, 2019 – Hyundai Motor and Aptiv announced plans to form a 50%-50% autonomous driving joint venture, valued at a total of USD4 billion.

The joint venture will advance the design, development, and commercialization of SAE Level 4 and 5 autonomous technologies, it will begin testing fully driverless systems in 2020 and have a production-ready autonomous driving platform available for robotaxi providers, fleet operators, and automotive manufacturers in 2022.

Aptiv will contribute its autonomous driving technology, intellectual property, and approximately 700 employees focused on the development of scalable autonomous driving solutions. Hyundai Motor Group affiliates — Hyundai Motor, Kia Motors, and Hyundai Mobis — will collectively contribute USD1.6 billion in cash at closing and USD 0.4 billion in vehicle engineering services, R&D resources, and access to intellectual property.

The transaction is subject to regulatory approval and other customary closing conditions and is expected to close early in the second quarter of 2020.