financetom
Business
financetom
/
Business
/
Self-driving technology startup Avride partners with Hyundai to expand robotaxi fleet
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Self-driving technology startup Avride partners with Hyundai to expand robotaxi fleet
Mar 5, 2025 5:34 AM

(Reuters) - Avride has partnered with Hyundai Motor Co ( HYMTF ) to expand its fleet of robotaxis, and signed a deal with the South Korean automaker to jointly develop and operate self-driving vehicles, the companies said on Wednesday.

The Texas-based startup will expand its fleet to 100 Hyundai IONIQ 5 cars this year and further in 2026, as Avride looks to enter new regions and enhance its self-driving system.

Avride is among many self-driving technology development companies expanding their fleet of robotaxis, entering new markets and tying up with ride-hailing companies.

Elon Musk-led Tesla prepares to launch its autonomous ride-hailing service in California and Texas this year, while Alphabet unit Waymo rolled out its robotaxi services exclusively on Uber's ( UBER ) platform on Tuesday in Austin, Texas.

Avride said its latest IONIQ 5 vehicles will be part of its robotaxi services exclusively on Uber ( UBER ) in Dallas, Texas.

Its cars will be manufactured in the United States at Hyundai's Metaplant facility in Georgia and then retrofitted with Avride's self-driving technology suite.

The companies said as part of the partnership, they will develop a fleet of robotaxis and explore the potential to collaborate on autonomous delivery services using Avride's robots.

The startup was previously part of the self-driving division of Russian company Yandex, from which it separated last year following corporate restructuring.

The Russian firm had in 2019 partnered with Hyundai's automotive supply unit to develop software and hardware systems for self-driving cars.

Avride's team in the past has worked with vehicles made by Hyundai Motor ( HYMTF ) as platforms for its autonomous technology, including the Sonata and IONIQ 5 models.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Cenovus Highlights MEG Deal Benefits, Calls Strathcona Offer Inferior
Cenovus Highlights MEG Deal Benefits, Calls Strathcona Offer Inferior
Sep 20, 2025
06:25 AM EDT, 09/19/2025 (MT Newswires) -- Cenovus Energy ( CVE ) late Thursday released a presentation outlining advantages of its transaction with MEG Energy ( MEGEF ) . Cenovus said the transaction was unanimously approved and reaffirmed by MEG's board of directors, adding that it delivers full and fair value to MEG shareholders. Meanwhile, Cenovus said Strathcona Resources' (...
Deutsche Balaton Aktiengesellschaft Sells ONE Common Shares In Skeena Resources
Deutsche Balaton Aktiengesellschaft Sells ONE Common Shares In Skeena Resources
Sep 20, 2025
06:24 AM EDT, 09/19/2025 (MT Newswires) -- Deutsche Balaton Aktiengesellschaft said Friday it had disposed of one common share of Skeena Resources Limited ( SKE ) though the facilities of the TSX Exchange for a consideration of $24.23. This represents a change of 0.000001% of the issued and outstanding Common Shares of the Issuer, it added. ...
Market Chatter: Nvidia Spent $900 Million-Plus to Recruit Enfabrica CEO, License AI Firm's Technology
Market Chatter: Nvidia Spent $900 Million-Plus to Recruit Enfabrica CEO, License AI Firm's Technology
Sep 20, 2025
06:18 AM EDT, 09/19/2025 (MT Newswires) -- Nvidia ( NVDA ) spent more than $900 million to hire certain Enfabrica employees, including Chief Executive Rochan Sankar, and to license the artificial intelligence hardware startup's technology, CNBC reported Thursday. The chipmaking giant is paying cash and stock in the deal, which closed last week, the news outlet reported, citing two people...
Lennar Issues Weak Home Deliveries Outlook as Fiscal Third-Quarter Results Trail Street Views
Lennar Issues Weak Home Deliveries Outlook as Fiscal Third-Quarter Results Trail Street Views
Sep 20, 2025
06:29 AM EDT, 09/19/2025 (MT Newswires) -- Lennar ( LEN ) shares declined early Friday as the homebuilder issued a fiscal fourth-quarter delivery outlook below market estimates, while it recorded weaker-than-expected results in the prior three-month period amid persistent housing market challenges. The company anticipates delivering between 22,000 and 23,000 homes in the ongoing quarter, it said late Thursday. The...
Copyright 2023-2026 - www.financetom.com All Rights Reserved