March 30, 2020
Hyundai Motor Group received clearance from the Committee on Foreign Investment in the United States (CFIUS) in connection with its US$4 billion autonomous driving joint venture with Aptiv (NYSE: APTV). CFIUS concluded that there were no unresolved national security issues with respect to the transaction, which brings together one of the industry’s most innovative vehicle technology providers and one of the world’s largest vehicle manufacturers to advance the design, development, and commercialization of SAE Level 4 and 5 autonomous technologies, furthering the partners’ leadership position in the global autonomous driving ecosystem.
Latham & Watkins LLP represents Hyundai Motor Group in the transaction and advised the company on the CFIUS clearance process. The CFIUS team was led by Washington, D.C. partner Les Carnegie with associate Zachary Eddington. The corporate deal team is led by New York partner James Gorton, Seoul partner Wonsuk (Steve) Kang, Los Angeles partner David Zaheer, and New York counsel Michael Anastasio.