COMPANY INFO
Motional, officially known as Motional, Inc., was founded in 2020 as a joint venture between Hyundai Motor Group and Aptiv. The company was founded by early autonomous vehicle pioneers including Karl Iagnemma, with roots tracing back to the startups nuTonomy and Ottomatika. Motional has approximately 814 to 878 employees and operates in the autonomous vehicle and automotive industry. Its website is www.motional.com. Motional develops and commercializes autonomous driving technology aimed at making driverless vehicles safe, reliable, and accessible. The company partners with ride-hailing and delivery services to deploy SAE Level 4 autonomous vehicles, with a mission to improve road safety and revolutionize transportation.
Motional, officially known as Motional, Inc., is a pioneering automotive company founded in 2020 as a joint venture between Hyundai Motor Group and Aptiv. The company was established by autonomous vehicle (AV) industry leaders including Karl Iagnemma and brings together expertise tracing back to startups like nuTonomy and Ottomatika. With approximately 878 employees, Motional focuses on developing and commercializing autonomous driving technology to make driverless vehicles safe, reliable, and accessible. Motional operates in the automotive and autonomous vehicle space, partnering with ride-hailing and delivery services to deploy SAE Level 4 autonomous vehicles and transform urban transportation.
Motional has taken a strategic approach to funding, with an emphasis on large-scale corporate and venture capital investments to support long-term AV development. Motional funding has totaled approximately $923 million across three significant funding rounds. The most recent and notable was a $475 million corporate majority investment from Hyundai Motor Group in May 2024, granting Hyundai a majority stake in the company. Motional’s funding rounds reflect strong backing from industry titans, with capital deployed towards advancing technology, scaling commercial operations, and forming new strategic partnerships. The company’s initial launch was also marked by the formation of a joint venture between Hyundai and Aptiv, valued at $4 billion, setting the stage for subsequent Motional investors to play a crucial role in shaping the future of autonomous vehicles.
This latest funding round saw Hyundai Motor Group invest $475 million to acquire a majority stake in Motional. The capital infusion is aimed at accelerating the development and deployment of Motional's autonomous vehicle services, expanding commercial reach, and enhancing overall technology capabilities.
This Series D round provided Motional with $166 million in funding to support ongoing development of their autonomous vehicle technology platform, ramping up operations and furthering research and innovation in driverless technologies.
Motional originated as a Hyundai-Aptiv joint venture in 2020, with an initial valuation of $4 billion. This foundational investment was designed to combine the strengths of both companies, providing deep financial resources and technological expertise to build and commercialize leading autonomous driving solutions.
Hyundai Motor Group is a global automotive manufacturer and technology company. As the lead investor in Motional’s most recent and largest funding round, Hyundai provided $475 million to acquire a majority stake, fueling the expansion and commercialization of Motional's autonomous vehicle systems. Hyundai's ongoing commitment is central to Motional’s funding rounds, offering both financial backing and industry experience.
Aptiv is a global technology leader focused on advanced mobility solutions and smart vehicle architectures. As the original joint venture partner, Aptiv provided foundational support, capital, and engineering talent necessary for Motional's launch and continued innovation. Aptiv’s investment and partnership solidified Motional’s industry positioning and helped secure further venture capital.
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