Hyundai, Aptiv form $4 billion joint venture to develop self-driving cars

The top players in the race to put self-driving cars on the road are quickly realizing they can’t win alone. Hyundai and Aptiv announced they’re pooling their resources into a joint venture created to accelerate the process of making truly autonomous vehicles — those without pedals or a steering wheel — a reality in the not-too-distant future.

Hyundai and Aptiv each own a 50% stake in the $4 billion joint venture. Engineers and researchers from both companies will work together to develop safe, reliable level-four and level-five technology. Aptiv will contribute years of expertise in making cars drive themselves, and about 700 employees. Hyundai and sister company Kia will make their research and development resources, their engineering services, and their intellectual property available…

The testing phase will last approximately two years, and a good chunk of it will take place in South Korea because that nation’s 5G network is one of the best in the world.