Hyundai and Kia to invest in self-driving startup Aurora
Sun, Jun 16 2019
Hyundai Motor Co said on Thursday it would invest in self-driving car software startup Aurora along with Kia Motors Corp to speed up development of autonomous vehicle technologies.
"With the new investment, the companies have agreed to expand research to a wide range of models and to build an optimal platform for Hyundai and Kia's autonomous vehicles," Hyundai said.
Aurora said in a blog post that Hyundai and Kia's investment is part of a series B financing round, which has now raised more than $600 million.
Aurora, which just announced a partnership with Fiat Chrysler Automobiles, competes with Alphabet's Waymo and General Motors' majority-owned Cruise, among others.
(Reporting by Rama Venkat in Bengaluru; Editing by Leslie Adler)
By Reuters
See also: Kia Forte5 hotted-up hatch could be coming back to U.S. market, 2020 Kia Cadenza shows its new face in mid-cycle refresh, U.S. appeals court preserves $210M Hyundai-Kia fuel economy class settlement.