Hyundai Invests Nearly $1 Billion in Self-Driving Startup Motional

The investment increases Hyundai's stake to 85%, as Aptiv reduces its share and cuts its annual sales forecast.

Hyundai's near $1 billion investment in Motional includes acquiring a majority stake and buying out joint venture partner Aptiv's equity.
Aptiv to reduce its common equity interest in Motional from 50% to about 15%, following a strategic decision to cut funding towards the self-driving venture.
The deal is part of Hyundai's strategy to push forward with its autonomous vehicle ambitions, despite industry challenges.
Motional, utilizing Hyundai's IONIQ5 for its robotaxi service, continues to test and plans to launch a commercial service in 2024.
Aptiv adjusts its 2024 sales forecast downwards, reflecting broader industry trends and operational challenges.