- Joint venture advances the development of production-ready autonomous driving systems for commercialization of Level 4 and 5 self-driving technologies
- Autonomous driving platform will be available for robotaxi providers, fleet operators, and automotive manufacturers in 2022
- Partnership reinforces Aptiv and Hyundai Motor Group’s shared vision of making mobility more safe, green, connected, and accessible
- Aptiv and Hyundai Motor Group’s combined contributions total USD 4 billion, with each owning 50 percent stake in the joint venture
Aptiv and Hyundai Motor Group announced that they will be forming an autonomous driving joint venture. This partnership brings together one of the industry’s most innovative vehicle technology providers and one of the world’s largest vehicle manufacturers.
The joint venture will advance the design, development and commercialization of SAE Level 4 and 5 autonomous technologies, furthering the partners’ leadership position in the global autonomous driving ecosystem. The joint venture 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.
As part of the agreement, Hyundai Motor Group and Aptiv will each have a 50 percent ownership stake in the joint venture, valued at a total of USD 4 billion. 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 USD 1.6 billion in cash at closing and USD 0.4 billion in vehicle engineering services, R&D resources, and access to intellectual property.
The partnership reinforces the companies’ shared vision of making mobility more safe, green, connected, and accessible by advancing the development and commercialization of the highest-performing and safest autonomous vehicles.
The new joint venture will be led by Karl Iagnemma, President, Aptiv Autonomous Mobility and headquartered in Boston, with technology centers across the United States and Asia, including Korea. Hyundai Motor Group and Aptiv will each appoint an equal number of directors to govern the joint venture.
The joint venture’s Korea operations will serve as a key technology center as well as a base for vehicle modification and a testbed for autonomous driving mobility service platforms. Hyundai Motor Group’s strong presence in the local automotive market and the country’s world-class 5G infrastructure are anticipated to spur the partnership’s development efforts.
Aptiv and Hyundai Motor Group: Creating a Safe and Trusted Driverless World
Aptiv is a global technology company with a portfolio of advanced mobility solutions that includes perception systems, software algorithms, compute platforms, and data and power distribution.
Aptiv’s autonomous driving engineers have been leading the development of software for high-performing self-driving cars since the historic 2007 DARPA Challenge. The company conducted the first coast-to-coast automated drive in the United States in 2015, and was the first to commercially deploy autonomous vehicles globally.
Aptiv operates more than 100 autonomous vehicles on multiple continents, across a range of driving conditions and environments, including the largest commercial deployment of autonomous vehicles in Las Vegas with a ride-hailing network. To date, the company has provided more than 70,000 paid autonomous rides, servicing more than 2,700 destinations, while maintaining a near perfect average passenger rating of 4.95-out-of-five stars.