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“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 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. - 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 ventureThe 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. The Hyundai-Aptiv Autonomous Driving Joint Venture develops world class production-ready autonomous driving systems. DUBLIN and SEOUL, South Korea and BOSTON – Aptiv (NYSE: APTV) and Hyundai Motor Group announced today that they will be forming an autonomous driving joint venture. Headquartered in Boston, the Hyundai-Aptiv Autonomous Driving Joint Venture has operations in the US and Asia. 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 is a global technology company with an industry-leading 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.
Hyundai first began testing autonomous vehicles on public roads in the U.S. in 2015 with a license from the state of Nevada.During CES in 2017, Hyundai advanced its trials in urban environments, demonstrating self-driving technologies to the public with its autonomous IONIQ model.
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.“This partnership further strengthens Aptiv’s industry-leading capabilities in the development of advanced driver assistance systems, vehicle connectivity solutions, and Smart Vehicle Architecture,” said Kevin Clark, President and Chief Executive Officer, Aptiv. The company conducted the first coast-to-coast automated drive in 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 Hyundai Motor Group has created a value chain based on automobiles, steel, and construction, and its business areas also include logistics, finance, IT and service.

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