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Hyundai Motor Groupto set up US$4 bil. in self-driving joint venture

2019-09-23 850 Dailymotion

현대차그룹, 자율주행기업 앱티브와 미국에 합작사 설립<br /><br />The nation's top automaker, Hyundai Motor Group, will create a joint venture with an automotive technology firm in the U.S.,...to develop autonomous car technologies.<br />Kim Hyesung reports. <br />Hyundai Motor Group will set up a four billion U.S. dollar joint venture with Aptiv Plc, with both parties taking a 50 percent ownership stak in the new company.<br />The new entity will work to design, develop and commercialize autonomous vehicles.<br />In a statement Monday, Hyundai Motor Group said Hyundai Motor, Kia Motors and Hyundai Mobis will contribute a combined 1-point-six billion in cash and 400 million dollars in areas like engineering services and R&D.<br />Automotive technology company Aptiv on the other hand will provide its autonomous driving technology, intellectual property, and about 700 employees focused on the development of autonomous driving solutions.<br />The companies will appoint an equal number of directors in the venture, which will be based in Boston... with technology centers across the U.S., and Asia, including Korea.<br />This marks the biggest bet made by Hyundai Motor Group and the venture will begin testing fully driverless systems in 2020 and have a production-ready autonomous driving platform by 2022.<br />Hyundai said in February it plans to invest over 12 billion dollars in areas such as autonomous driving technologies, vehicle electrification and mobility services by 2023.<br />Kim Hyesung, Arirang News. <br /><br />

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