Hyundai Pumps Over $900M into Self-Driving Tech, IONIQ 5 Wins Top Family SUV

In a significant move, Hyundai has invested more than $900 million into autonomous driving technologies through its startup, Motional. Concurrently, the Hyundai IONIQ 5 has been acclaimed as the Best Electric 5 Passenger SUV for families, highlighting its innovative features and family-friendly design.

Hyundai Ramps Up Investment in Motional, Aiming for Leadership in Autonomous Driving

In a recent report by Teslarati, Hyundai and Aptiv, an Irish-American automotive technology business, founded Motional in March 2020. Hyundai will pay $487,889,235 in capital increases and $456,246,344 to buy 11% of April's stake in Motional. The South Korean manufacturer will own 66.8% of Motional after its investment.

"Hyundai Motor Group decided to obtain stable management rights in Motional to proactively develop autonomous driving technology and internalize core technology," said the South Korean automaker.

"The additional investment is expected to enhance Motional's technological competitiveness by establishing the direction of technology development and lay the groundwork for expanding synergy between autonomous driving units within (Hyundai Motor Group)," said the Asian automaker.

Active said in January 2024 that it would stop contributing cash to Motional and look for methods to lower its ownership stake after the self-driving business suffered significant operating losses over the previous three years. According to corporate records from Hyundai Motor Group affiliates, Motional's operating losses totaled $1,471,530,400.

Motional showcased its self-driving technology in the United States in March, using the Hyundai Ioniq 5 robotaxi. Motional's self-driving technology, the Ioniq 5, passed a regular US driver's license exam.

Hyundai IONIQ 5 Clinches Best Family Electric SUV Title, Praised for Versatility and Innovative Features

Parents, an online publication, chose the Hyundai IONIQ 5 as the Best Electric 5 Passenger SUV for Families in the 2024 Best Family Cars Awards.

This year, parents enlisted the help of auto industry experts and children to nominate and vote on the best family vehicles. The judges included Paul Watt, Director of Industry Analysis at Auto Pacific, Kelly Stump, founder of The Car Mom, and Tea Collier, founder of Modern Family Driver. The event also featured Christina Bradman, founder of Mobile Mama Reviews, Omar Rana, founder of Omar Drives, and Scotty Reiss, founder of A Girls Guide to Cars.

Because of its large size, the Hyundai IONIQ 5's back seat was deemed family-friendly by the Parents' panel judges. The spacious rear seat lets parents easily arrange car seats for hyperactive children. The center console also slides forward and backward, giving the rear seat more flexibility.

However, the Hyundai IONQ 5's rear seat was not its key selling point for families. The judges agreed that the all-electric SUV's standout feature was its vehicle-to-load adaptor.

"Hyundai offers a vehicle-to-load adapter that allows you to use the IONIQ 5 as a charger for other things. Plug in the adapter, and you can power your kitchen when a storm takes out your power," said the judges on Parents'the panel.

The Hyundai IONIQ 5's vehicle-to-load capability was tested in 2022 by powering a whole hotel. The Hyundai Hotel uses the IONIQ 5's vehicle-to-load technology to power an entire complex in the UK countryside. The car-powered pop-up hotel remained open for fourteen days.

Photo: Mpho Mojapelo/Unsplash