FILE PHOTO: The logo of Hyundai Motors is pictured at the second media day for the Shanghai auto show in Shanghai, China, April 17, 2019. REUTERS/Aly Song
(Reuters) – 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
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