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Autonomous Vehicles Asia Google

Hyundai, Aptiv to Partner in Self-Driving Car Venture

Hyundai Motor Group is planning to invest $1.6 billion in a self-driving car venture with Aptiv, Reuters reported, making the Korean auto manufacturer the latest car company to throw money at the autonomous vehicle market.

Aptiv, meanwhile, will contribute its technology, intellectual property and about 700 employees.

The new joint venture, which will be 50-50 owned by the two companies, will start testing self-driving cars in 2020 and aims to have a “production-ready autonomous driving platform” ready in 2022, the article said. 

It’s an aggressive timetable, and it’s not clear why Hyundai and Aptiv believe they can overtake companies such as Waymo, Uber and Cruise, which all have been working on autonomous vehicle technologies for quite some time—without putting any fully self driving cars on the road.

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