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Hyundai has formed a new partnership to develop autonomous driving software for auto makers to design their own fleet of robot taxis.
The South Korean car marker has announced the $4 billion venture with Aptiv, which will design Level 4 and Level 5 production-ready self-driving systems intended for commercialization by 2022.
Venture - Firms - Leadership - Position - Ecosystem
The venture aims to further the firms' leadership position in the global autonomous driving ecosystem.
The goal is to develop Level 4 and Level 5 production-ready self-driving systems intended for commercialization, which the duo said will be made available to robotaxi and fleet operators, as well as other auto makers, by 2022.
Companies - Percent - Venture - Value
Both companies will own 50 percent of the joint venture, which has a total value of $4 billion.
Hyundai, which seems to have poured the most into the partnership, has contributed $1.6 billion in cash and another $4 billion in vehicle engineering services, R&D resources, and access to intellectual property.
Dublin-headquarterd - Aptiv - Technology - Property - Employees
However, Dublin-headquarterd Aptiv, will provide its own autonomous driving technology, intellectual property and some 700 employees focused on the development of scalable autonomous driving solutions.
The new partnership echos the firms' shared vision of making mobility safer, greener and more accessible through the development of autonomous technology.
Partnership - Aptiv - Capabilities - Development - Driver
'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.
'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.'
Venture - Korea - Operations - Technology - Center
The joint venture's Korea operations will serve as a key technology center as well as a base for vehicle modification and a...
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