• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Thursday, October 16, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Read a ride Cars/SUVs

Hyundai invests $448 Million in self-driving venture, acquiring 11% stake from Aptiv

David Ijaseun by David Ijaseun
May 2, 2024
in Cars/SUVs, Tech
0
Aptiv and Hyundai
705
SHARES
9.7k
VIEWS
Share on FacebookShare on Twitter

Hyundai Motor is set to increase its stake in the self-driving technology field, as it acquires an 11% share in Motional, a self-driving joint venture with auto parts supplier Aptiv. This move comes alongside Aptiv’s revision of its annual sales forecast, a decision that saw the company’s shares rise by approximately 11.6% during morning trading.

The acquisition, valued at $448 million, will see Hyundai take over Aptiv’s share in Motional’s common equity, a deal expected to be finalised by the third quarter of this year. Additionally, Hyundai will inject a further $475 million into Motional in the second quarter to support the venture’s growth.

READ ALSO

China lifts global EV sales to record high in September

UK drivers sue carmakers over diesel test ‘cheating’ in £6bn case

Aptiv’s decision to reduce its equity interest in Motional reflects broader trends in the automotive industry, where legacy automakers are reassessing their involvement in autonomous technology due to technological challenges and safety concerns surrounding self-driving vehicles.

Garrett Nelson, an analyst at CFRA, in a Reuters report, described the move as a “big positive,” noting that Motional had been a financial burden on Aptiv for some time. As part of the agreement, Hyundai will become the primary funder of Motional, relieving Aptiv of any future financial obligations to the joint venture.

Motional currently operates a robotaxi service in Las Vegas using Hyundai’s IONIQ5 electric car, offering rides through Uber and Lyft. Aptiv also announced an increase in its share repurchase target for the year, from $750 million to $1.5 billion.

Despite revising its full-year 2024 net sales forecast to between $20.85 billion and $21.45 billion, down from the previous projection of $21.3 billion to $21.9 billion, Aptiv remains optimistic. CEO Kevin Clark emphasised the company’s focus on leading technologies and cost optimization to drive performance in the latter half of the year.

While Aptiv faces challenges such as a slowdown in electrification in North America and Europe, as well as ongoing labour and material cost pressures, strong demand for its safety equipment has helped offset these issues. This positive outlook was reflected in a first-quarter profit beat, indicating a potentially promising future for Aptiv despite the challenges ahead.

Read more on New York Auto Show 2024: Hyundai among top attractions with new SUV debuts

Tags: HeadlineHyundaiself-driving cars

Related Posts

EV sales in September
Cars/SUVs

China lifts global EV sales to record high in September

October 15, 2025
UK Drivers Sue Carmakers Over Diesel Test Cheating
Cars/SUVs

UK drivers sue carmakers over diesel test ‘cheating’ in £6bn case

October 14, 2025
Toyota rearview camera
Cars/SUVs

Toyota recalls 394,000 vehicles over rearview camera malfunction

October 13, 2025
Uber for women in South Africa
Business

Uber launches women-only rides in South Africa to boost safety and trust

October 2, 2025
Jaguar Land Rover cyberatack
Cars/SUVs

Jaguar Land Rover’s cyberattack shutdown to cost £50 million a week as factories stay closed

September 24, 2025
Bugatti grand tour in morocco
Africa

Bugatti trades Monaco boulevards for Morocco’s rugged roads

September 3, 2025
Next Post
Motor vehicles manufacturing plant

U.S. factory orders surge 1.6% in March, driven by aircraft and vehicle demand

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Lamborghini’s 60th anniversary: A legacy of speed, power, design!

Lamborghini’s 60th anniversary: A legacy of speed, power, design!

August 16, 2025
Autojournal Mercedes EV charging stations

Mercedes Builds 400,000 charging stations for electric vehicle owners

February 7, 2023
Bosch autonomous driving

Bosch invests €3 Billion annually in automotive software

April 6, 2023
Gulfstream’s G700

Gulfstream’s G700 breaks 700th speed record in historic milestone

April 24, 2025

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • China lifts global EV sales to record high in September
  • UK drivers sue carmakers over diesel test ‘cheating’ in £6bn case
  • Driver dies in Xiaomi EV fire, shares dive over 8%
  • Lucid Motors gains ground as Tesla’s model S loses shine after 12 years

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In