(Reuters) - Aptiv Plc will reduce equity interest in its self-driving joint venture, Motional, with Hyundai Motor, the auto parts supplier said on Thursday.

Under the agreement, Aptiv will not be required to fund the joint venture in the future, while Hyundai will provide additional funding.

The transactions are expected reduce Aptiv's common equity interest from 50% as of March 31, 2024 to about 15%.

Aptiv also cut its full-year net sales forecast to be between $20.85 billion and $21.45 billion, compared with its prior projection of $21.3 billion to $21.9 billion.

On an adjusted basis, it earned $1.16 per share in the first quarter, compared with LSEG estimates of $1.01 per share.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)