"In what is possibly its largest overseas investment, the Hyundai Motor Group announced that it will invest US$1.6 billion in a joint venture with Irish auto supplier Aptiv, to develop self-driving vehicle technologies. Hyundai Motor, Kia Motors and Hyundai Mobis will together invest US$1.6 billion in cash and US$400 million in research and development resources, valuing the JV with Aptiv at US$4 billion. Aptiv will own 50% in the JV and will contribute its autonomous driving technology, intellectual property, and approximately 700 employees focused on developing autonomous driving solutions. The JV will be testing autonomous systems in 2020, targeting to have production-ready autonomous driving platforms for self-driving taxi providers and fleet operators within 2022. More and more global automakers and suppliers are choosing to forge alliances among each other, looking to share the financial and technical risks of developing autonomous vehicle technologies. With Hyundai having lagged its global peers, this JV is Hyundai’s ticket to catch up." – Vinay Piparsania