Hyundai has invested nearly $1 billion in developing self-driving technology through its autonomous driving startup Motional. The automaker made this significant investment to actively develop autonomous driving technology and internalize core technology, according to South Korean sources. In March 2020, Hyundai, along with Irish-American automotive technology company Aptiv, established Motional.

The additional investment from Hyundai is expected to enhance Motional’s technological competitiveness by setting the direction for technology development and building a foundation for expanding synergy within Hyundai Motor Group’s autonomous driving units. However, in January 2024, Aptiv announced that it would cease allocating capital to Motional and seek ways to reduce its ownership share due to the startup’s significant operating losses over the past three years, totaling $1,471,530,400 according to reports from Hyundai Motor Group’s affiliates.

In March of the same year, Motional showcased its self-driving technology in the United States by testing the Hyundai Ioniq 5 robotaxi. The demonstration proved successful as Motional’s self-driving tech passed a typical United States driver’s license test with the Ioniq 5. For any further information or tips on this topic, readers can contact author Maria@teslarati.com or via X @Writer_01001101.