Reuters
The development comes ahead of electric carmaker Tesla's unveiling of its robotaxi, dubbed "Cybercab", on Aug. 8 and as legacy automakers limit spending on expensive autonomous driving technology in the face of regulatory and safety hurdles. Auto parts supplier Aptiv said last week it would sell its stake in Motional, its joint venture with Hyundai Motor, while the Korean automaker will fund the startup with additional $475 million. As part of Motional's restructuring process, the startup said it would reduce workforce, focus resources on developing and generalizing its driverless technology "while de-emphasizing near-term commercial deployments and ancillary activities".