Hyundai Motor to inject extra funds into Motional

FILE PHOTO: A Hyundai logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo

SEOUL: Hyundai Motor Group will invest 1.29 trillion won in Motional, a US-based autonomous driving startup, to boost technological development and secure stable control of the startup, according to the South Korean auto conglomerate.

Hyundai Motor will spend 663 billion won in capital increase and an additional 620 billion won for acquiring Aptiv’s 11% share in Motional, bringing the auto giant’s total share to 66.8%.