Hyundai Motor Group will invest $1.6 billion in a joint venture to develop self-...
Aptiv said in its 2018 annual report that Hyundai Mobis was one of its competitors in advanced safety and user experience segment, along with Bosch Group and Denso Corporation.
The latest investment is another sign that Hyundai has abandoned its strategy of developing technology in-house, a strategy which previously raised investor concerns that it may be left behind in the race for future mobility. Hyundai Motor said in February that it will invest 14.7 trillion won in future technologies such as self-driving, connectivity and car sharing areas by 2023.
In November, Hyundai Motor Co invested $250 million in Singapore’s ride-hailing firm Grab, raising its stakes in growing Southeast Asian markets.
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