Aptiv Withdraws Funding from Motional Robotaxi Project

The move leaves Hyundai to support the venture alone, reflecting a broader industry trend of major companies backing out of autonomous vehicle technology.

• Aptiv, a key backer of the Motional robotaxi project, has announced it will no longer provide additional capital for Motional and seeks to sell some of their stake.
• Motional, a joint venture between Aptiv and Hyundai, has been developing robotaxis and performing tests and live operations with safety drivers in Las Vegas and other cities.
• Without Aptiv's support, Hyundai will need to support Motional on its own and may seek another partner to buy Aptiv’s share and invest more.
• Other major companies like Ford, Volkswagen, and General Motors have also cut down or backed out of autonomous vehicle technology, indicating a shift in the industry.
• Motional continues to operate an autonomous vehicle taxi service in Las Vegas and plans to launch a robotaxi service using driverless Hyundai Ioniq 5 vehicles in 2024.

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