SEC filings or official announcements from Hyundai

Hyundai Invests Nearly $1B in Self-Driving Firm Motional, Reduces Aptiv's Stake

May 2, 2024, 05:06 PM

Hyundai has finalized a significant investment deal with self-driving startup Motional, involving a total expenditure of nearly $1 billion. This deal includes a $475 million capital injection into Motional and an additional $448 million to purchase a substantial portion of Aptiv's shares, reducing Aptiv's equity interest in Motional from 50% to 15%. The investment aims to provide Motional with the necessary capital to continue its operations and gives Hyundai a majority stake in the company.