Hyundai is spending close to $1 billion to keep self-driving startup Motional alive
TechCrunch·2024-05-03 12:02
Hyundai has agreed to spend nearly $1 billion on Motional, an investment that will give the automaker a majority stake while providing the self-driving startup with the necessary capital to keep operating.
The Korean automaker invested $475 million directly into Motional as part of a broader deal that includes buying out joint venture partner Aptiv. As part of the deal, Hyundai will spend another $448 million to buy 11% of Aptiv’s common equity interest in Motional, according to information revealed Thursday inAptiv’s first-quarter earnings report.
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