Automaker Hyundai is forming a new joint venture with autonomous driving technology company Aptiv, with both parties taking a 50 percent ownership stake in the new company. The goal of the new venture will be to develop Level 4 and Level 5 production-ready self-driving systems intended for commercialization, with the goal of making those available to robotaxi and fleet operators, as well as other auto makers, by 2022. The combined investment in the joint venture from both companies will total $4 billion in aggregate value (including the value of combined engineering services, R&D and IP) initially, according to Aptiv and Hyundai, and testing for their fully autonomous systems will begin in 2020 in pursuit of that 2022 commercialization target. In terms of what each is bringing to the table, Aptiv will be delivering its autonomous driving tech, which it has been developing for many years – originally as part of global automative industry supplier Delphi – as well as 700 employees working on AV tech.
Comment on Aptiv and Hyundai form new joint venture focused on autonomous driving
Darrell Etherington, TechCrunch
Mon, 09/23/2019 - 4:42am
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