Hyundai Invests Nearly $1 Billion in Autonomous Driving Startup Motional through Joint Venture with Aptiv

Hyundai has announced that it will invest nearly $1 billion in Motional, an autonomous driving startup, through its joint venture with Aptiv. The South Korean automaker aims to proactively develop self-driving technology and internalize core technology.

Motional was established in March 2020 by Hyundai and Aptiv, an Irish-American automotive technology company. This investment includes $487,889,235 for a capital increase and an additional $456,246,344 to acquire 11% of Aptiv’s shares in Motional. Following this investment, Hyundai will have a total share of 66.8% in Motional. The additional funding will enhance Motional’s technological competitiveness and lay the groundwork for expanding synergy between autonomous driving units within Hyundai Motor Group.

Despite facing significant operating losses over the past three years, Motional has demonstrated its self-driving technology in the United States with the Hyundai Ioniq 5 robotaxi. The self-driving technology passed a typical United States driver’s license test with the Ioniq 5.