Hyundai Motor Group will invest an undisclosed amount of money in self-driving tech company Aurora Innovation, the companies said Wednesday.
The funding deepens the relationship between the Korean automaker and Silicon Valley startup, and they will work together to develop autonomous driving systems for use in Hyundai and Kia vehicles.
Terms were undisclosed. But Aurora said the funding deal would increase its ongoing Series B financing round to "more than $600 million." Previously, the company had said the round had reached $530 million, which includes an investment from Amazon.
Hyundai and Aurora have been collaborating on self-driving vehicles since 2018, starting with plans to deploy the systems, called the Aurora Driver, on Nexo, Hyundai's fuel cell vehicle. This marks Hyundai's first financial investment in the company.