Hyundai announced a new $4 billion joint venture with Aptiv to produce a “production-ready autonomous driving platform available for robotaxi providers, fleet operators, and automotive manufacturers” by 2022.
Hyundai and Aptiv will each own half the company, which Hyundai predicted would start testing autonomous vehicles next year. The agreement on the new company was expected to close in the second quarter of 2020. Hyundai said it would put up $1.6 billion and $400 million worth of intellectual property, engineering and R&D. Aptiv will put up its technology, intellectual property, and about 700 employees.
The announcement of Hyundai’s $2 billion investment in the new company came just a few months after the OEM announced it and Kia would invest more money into autonomy partner Aurora. Aurora said the funding was part of more than $600 million raised during a Series B round.
Hyundai and Kia had been working with Aurora since 2018 on self-driving fuel-cell NEXOs, and Hyundai repeated its 2018 prediction that this effort would yield commercialised Level 4 autonomous vehicles by 2021. “With the new investment, the companies have agreed to expand research to a wide range of models and to build an optimal platform for Hyundai and Kia’s autonomous vehicles,” stated Hyundai.
The Aurora Driver system “comprises the lidar, radar, and cameras that perceive the world around it and the computer that runs the software modules, enabling it to make sense of the world and plan a safe path through it.”
When asked if this 2021 target date had been changed to 2022, given the more recent announcement, Hyundai’s Brian Im stated: “The JV’s (and Hyundai’s) current timeline for production of driving platforms for robotaxi providers, fleet operators, and automotive manufacturers is 2022. However, Hyundai Motor Group’s timeline for full-scale mass production of autonomous vehicles is 2024, and we believe the newly established JV will help accelerate our effort toward this goal.”
This article courtesy of John Huetter of Repairer Driven Education (RDE). Check out their website at; http://www.repairerdrivennews.com/ for this and many other informative and educational articles on the collision repair industry.