Hyundai Motor Group and APTIV will be setting up a self-driving car venture. Under this arrangement, Hyundai will invest $1.6 Billion in cash and $400 Million in R&D resources, while APTIV will contribute with its autonomous driving technology, its IP and 700 employees in JV. This will be the biggest overseas investment of Hyundai in AD technologies. The new firm is not named till now, will be based in Boston and will be developing and testing Level 4 & 5 autonomous driverless systems, the idea would be to have production-ready autonomous driving platforms available by 2022. Hyundai will aim to commercialize its own autonomous vehicles in 2024.
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