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Hyundai and Kia to invest in self-driving startup Aurora

Aurora, which just announced a partnership with Fiat Chrysler Automobiles, competes with Alphabet`s Waymo and General Motors` majority-owned Cruise, among others.

Hyundai and Kia to invest in self-driving startup Aurora

Hyundai Motor Co said on Thursday it would invest in self-driving car software startup Aurora along with Kia Motors Corp to speed up development of autonomous vehicle technologies.

"With the new investment, the companies have agreed to expand research to a wide range of models and to build an optimal platform for Hyundai and Kia`s autonomous vehicles," Hyundai said.

Aurora said in a blog post that Hyundai and Kia`s investment is part of a series B financing round, which has now raised more than $600 million.

Aurora, which just announced a partnership with Fiat Chrysler Automobiles, competes with Alphabet`s Waymo and General Motors` majority-owned Cruise, among others.