Aptiv/Hyundai $4B Joint Venture to Begin Testing ‘Fully Driverless’ Systems in 2020
Automotive tech supplier Aptiv and Hyundai agreed to form a 50/50 joint venture valued at $4 billion to speed the design, development and commercialization of autonomous vehicles, said the companies Monday. The JV will begin testing “fully driverless” systems next…
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year, and commercialize vehicles with Levels 4 and 5 autonomy starting in 2022, they said. Targeted markets will include “robotaxi” providers, fleet operators and automotive manufacturers, they said. The transaction is expected to close early in Q2 2020. The JV will be headquartered in Boston under the direction of Aptiv Autonomous Mobility President Karl Iagnemma, they said.