Korean automakers Hyundai, Kia to invest in self-driving startup Aurora

FILE PHOTO - The logo of Hyundai Motor is seen on the steering wheel of a Sonata sedan car during its unveiling ceremony in Seoul, South Korea, March 8, 2017. REUTERS/Kim Hong-Ji

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.

Financial terms of the investment were not disclosed.

Aurora, which just announced a partnership with Fiat Chrysler Automobiles, competes with Alphabet’s Waymo and General Motors’ majority-owned Cruise, among others.

Reuters