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Motional's all-electric IONIQ 5 robotaxi in Las Vegas. Credit: Motional

Hyundai Motor Group (HMG) is to increase its shareholding in its US-based autonomous driving joint venture Motional while also acquiring a stake in Aptiv, its partner in the joint venture. The automaker plans to increase its stake in Motional this year through a KRW663bn (US$486m) paid in capital increase while acquiring an 11% stake in Aptiv. HMG said it intended to strengthen its managerial control of Motional, its focus on autonomous driving technology and “internalise” the joint venture’s core technology.

Inchcape, a vehicle importer, distributor and retailer, is selling its UK retail operations to Group 1, which owns 202 dealerships and 265 franchises covering 35 brands plus 43 collision repair centres in the US and the UK. The deal will be a US$439m all-cash transaction and is expected to complete in Q3 2024.

Infosys has announced a definitive agreement to acquire 100% of R&D engineering firm In-Tech, which is focused on the German automotive industry. The move will strengthen Infosys engineering R&D capabilities, it says. In-Tech develops solutions in e-mobility, connected and autonomous driving and EVs.

Hankook & Company, the holding company of tyre manufacturer Hankook Tire and Technology, has reached a preliminary agreement to acquire an additional 25% stake in Hanon Systems, a leading manufacturer of automotive heat management systems. Hanon Systems is a major global manufacturer of battery thermal management systems, as well as HVAC systems for both ICE and electric vehicles.