Hyundai heir: 'Still a long way to go' for autonomous cars

Chung Eui-sun, executive vice president of Hyundai, who has assumed day-to-day running of the company from his father, sounded a cautious note after announcing a joint venture for developing autonomous vehicle technology. The new development firm will be owned 50/50 by Hyundai Motor Group and Aptiv, with the South Korean firm contributing US$1.6 billion ($2.4 billion) in cash and US$400 million ($590 million) in engineering and research services, as well as intellectual property.