Hyundai has finalized a significant investment deal with self-driving startup Motional, involving a total expenditure of nearly $1 billion. This deal includes a $475 million capital injection into Motional and an additional $448 million to purchase a substantial portion of Aptiv's shares, reducing Aptiv's equity interest in Motional from 50% to 15%. The investment aims to provide Motional with the necessary capital to continue its operations and gives Hyundai a majority stake in the company.
Hyundai invests $475M in self-driving startup Motional and will spend another $448M to buy 11% of Aptiv's common equity interest in Motional (@rebeccabellan / TechCrunch) https://t.co/oT96Z52JrH 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/TFAXXx5ArW
Hyundai has agreed to spend nearly $1 billion on Motional, an investment that will give the automaker a majority stake while providing the self-driving startup with the necessary capital to keep operating https://t.co/XTjWv7E1Tt
NEW: @Hyundai_Global is dropping close to $1 billion on self-driving startup @motionaldrive. The deal includes a $475M capital injection to Motional and $448M spent buying out much of Aptiv's shares. https://t.co/kZwnLeENOv @TechCrunch
Hyundai is spending close to $1 billion to keep self-driving startup Motional alive https://t.co/XTjWv7Du3V
$APTV has reached an agreement with @Hyundai to reduce their equity interest in @Motionaldrive from 50% to 15%. https://t.co/vRwTFtdOjt https://t.co/47Fun5NrTq