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Hyundai Motor

Hyundai Motor and Aptiv christen autonomous driving JV 'Motional'

Aug 12, 2020 (Gmt+09:00)

Hyundai Motor Group and Aptiv unveiled the name of its autonomous driving joint venture on August 12: Motional. The two companies entered into the joint venture agreement in September 2019 with each party investing $2 billion (around 2.4 trillion won) for a 50% stake in the tie-up.

The company was officially established in March 2020 and is the first joint venture with a foreign company where Hyundai Motor has made investments in the trillion won range. The Korean automaker giant and the US-based mobility solution provider joined forces to boost their positions in the global autonomous driving ecosystem.

Motional autonomous vehicle / Courtesy of Motional

Motional plans to roll out SAE Level 4 vehicles by 2022. The company will begin test driving the autonomous vehicles in 2020.

“Motional combines Aptiv’s expertise in advanced technology and Hyundai’s leadership in both vehicle manufacturing and R&D, making it uniquely powerful. It positions us to fundamentally change how people move through their lives,” said Karl Iagnemma, the chief executive officer of Motional.

The cross-border JV’s newest office in Seoul will handle the development of key technologies and serve as a testing location. Motional’s headquarters is in Boston with offices in Pittsburgh, Las Vegas, Santa Monica and Singapore.

“Motional represents the next frontier of innovation as the company pioneers a new era of safe, accessible and green transportation. We have a long history of being on the cutting edge of automotive technology and look forward to continuing that legacy with Motional,” said Chung Eui-sun, the executive vice-chairman of Hyundai Motor Group.

The driverless technology company’s strength lies in its solid team and background in autonomous driving. Motional is led by the industry veterans that founded nuTonomy and Ottomatika, the first startups in the space, and most of the developers have years of research experience in autonomous driving since the early 2000s.

“Motional will lead the commercialization of driverless vehicles as it has inherited the autonomous driving sector from Aptiv alongside Hyundai Motor Group’s technology,” said a source from Motional.

By Byung-uk Do

Danbee Lee edited this article

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