Hyundai Motor Group & Aptiv to Develop an Autonomous Driving Joint Venture
Aptiv and Hyundai Motor Group partner together to form an autonomous driving joint venture which advances the development of production-ready autonomous driving systems for the commercialization of level four and five self-driving technologies. The partnership brings one of the industry’s most innovative vehicle technology providers and one of the world’s largest vehicle manufacturers. Both the companies will have a 50 percent ownership stake in the joint venture, valued at a total of $4 billion. It will strengthen Aptiv and Hyundai Motor Group’s shared vision of making mobility more safe, green, connected and accessible.
Kevin Clark, President & CEO, Aptiv, comments, “This partnership further strengthens Aptiv's industry-leading capabilities in the development of advanced driver assistance systems, vehicle connectivity solutions, and Smart Vehicle Architecture. Hyundai Motor Group's cutting-edge engineering and R&D capabilities make them our partner of choice to advance the development of a production-ready autonomous platform”.
The partnership will advance the design, development and commercialization of SAE Level four and five autonomous technologies, furthering the partners’ leadership position in the global autonomous driving ecosystem. The fully driverless systems will begin testing in 2020 and have a production0ready autonomous driving platform available for robotaxi providers, fleet operators, and automotive manufacturers in 2022. The new joint venture will be spearheaded by Karl Iagnemma, President, Aptiv Autonomous Mobility and headquartered in Boston, with technology centres across the United States and Asia including Korea.
Euisun Chung, Executive Vice Chairman, Hyundai Motor Group, says, “The new joint venture marks the start of a journey with Aptiv toward our common goal of commercializing autonomous driving. The combined capabilities of Aptiv, a leading global technology company, and our Group, a global OEM, will create invaluable synergy to lead the autonomous driving landscape”.
The operations at Korea will be the key center as well as a base for vehicle modification and a testbed for autonomous driving mobility service platforms. Also, Hyundai’s strong presence in the local automotive market and the country’s world-class 5G infrastructure are anticipated to drive the partnership’s development efforts.
Headquartered in Dublin, Aptiv develops safer, greener and more connected solutions that enable the future of mobility. It delivers software capabilities, advanced computing platforms and networking architecture that helps with the mobility. With an employee count of 10000+, Aptiv’s autonomous driving engineers have been leading the development of software for high-performing self-driving cars since the historic 2007 DARPA Challenge.