Aptiv and Hyundai have formed an autonomous driving joint venture that will advance the design, development, and commercialization of SAE Level 4 and 5 autonomous technologies.
The joint venture will start testing fully driverless systems next year, with a plan to have an autonomous driving platform available for fleet operators, and automotive manufacturers in 2022.
Aptiv and Hyundai Motor Group will each have a 50 percent ownership stake in the joint venture, which is valued at $4 billion. Aptiv will contribute its intellectual property, autonomous driving technology, and approximately 700 employees. Hyundai will contribute $1.6 billion in cash at closing, and $400 million in vehicle engineering services, research and development resources, and access to intellectual property.
Source: AUVSI
