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Hyundai and Kia to invest in self-driving startup Aurora

Credit: REUTERS/Aly Song

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.

Adds details on Aurora financing

June 13 (Reuters) - Hyundai Motor Co 005380.KS said on Thursday it would invest in self-driving car software startup Aurora along with Kia Motors Corp 000270.KS 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 FCHA.MI, competes with Alphabet's GOOGL.O Waymo and General Motors' GM.N majority-owned Cruise, among others.

(Reporting by Rama Venkat in Bengaluru Editing by Leslie Adler)

((ramavenkat.raman@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 7151; Reuters Messaging: ramavenkat.raman.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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