Hyundai Motor India shares slip to Rs 1,745, down over 10 pc of IPO price
Shares of Hyundai Motor India, that were listed at Rs 1,931 apiece, have slipped more than 10 per cent from its IPO price.
Hyundai Motor Group’s autonomous vehicle joint venture in the US plans to manufacture its self-driving electric vehicles in the group’s newly launched innovation hub in Singapore, the company said on Wednesday.
Motional, the joint venture established between Hyundai and U.S. mobility startup Aptiv in 2020, will produce its all-electric Ioniq 5 robotaxi units at the Hyundai Motor Group Innovation Center Singapore.
According to Hyundai, the Ioniq 5 robotaxis will be deployed as part of Motional’s commercial services in the U.S. starting in 2024, reports Yonhap news agency.
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Motional and Hyundai also revealed that the Ioniq 5 robotaxi is one of the first Society of Automotive Engineers Level 4 autonomous vehicles to be certified under the U.S. Federal Motor Vehicle Safety Standards.
“The certification is a testament to the vehicle’s incredibly thorough development and testing program, its safety and reliability, and the sophistication of the autonomous technology,” Karl Iagnemma, Motional president and CEO, said.
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