Delphi Acquires Boston Self-Driving Start-Up nuTonomy for $400 Million
【Summary】Delphi Automotive PLC (NYSE: DLPH) announced today that it has signed an agreement to acquire Boston based nuTonomy, Inc. for an upfront purchase price of $400 million and earn-outs totaling approximately $50 million.
BOSTON — Delphi Automotive PLC (NYSE: DLPH) announced today that it has signed an agreement to acquire nuTonomy, Inc. for an upfront purchase price of $400 million and earn-outs totaling approximately $50 million.
The transaction brings together the leading start-up and Tier 1 in autonomous driving (AD) and further accelerates Delphi's commercialization of AD and Automated Mobility on-Demand (AMoD) solutions for automakers and new mobility customers worldwide.
Founded in 2013 by Dr. Karl Iagnemma and Dr. Emilio Frazzoli and recently named a World Economic Forum Technology Pioneer, Massachusetts based nuTonomy is developing a proprietary full-stack autonomous driving software solution for the global AMoD market. The company will add more than 100 employees, including 70 engineers and scientists, to Delphi's more than 100-member AD team, while increasing Delphi's access to new customers and markets in the emerging mobility space.
"We are delighted to welcome Karl, Emilio, and their talented team to Delphi," said Delphi's President and Chief Executive Officer, Kevin Clark. "The combination of the nuTonomy and Ottomatika AD teams, along with Delphi's industry-leading portfolio of perception systems and smart vehicle architecture solutions, further enhances our competitive position as the industry's most formidable provider of autonomous mobility solutions. This transaction is another example of our ongoing dedication to developing, implementing, and commercializing the highest performing and safest AD system available."
Upon completion of the transaction, Delphi will have autonomous driving operations in Boston, Pittsburgh, Singapore, Santa Monica, and Silicon Valley. nuTonomy will continue to be based in Boston, where both companies currently operate AMoD pilot programs around the city. By combining efforts with nuTonomy in Boston, Singapore, and other pilot cities around the world, Delphi will have 60 autonomous cars on the road across three continents by year-end, with the goal to further accelerate global fleet expansion and technology development.
Over the past several years, Delphi has acquired or invested in a range of companies to build out its expertise in advanced mobility, including autonomous software startup Automatika and Silicon Valley based solid-state lidar developer Quanergy. In May, Delphi also announced a partnership with Intel and Mobileye to power its autonomous driving computing platform.
"Our mission has always been to radically improve the safety, efficiency, and accessibility of transportation worldwide," said nuTonomy co-founder and CEO, Karl Iagnemma. "Joining forces with Delphi brings us one step closer to achieving our goal with a market-leading partner whose vision directly aligns with ours. Together we will set the global standard for excellence in autonomous driving technology."
The transaction is subject to customary closing conditions and is expected to close prior to year-end.
Originally from New Jersey, Eric is an automotive and technology reporter specializing in the high-tech industry in Silicon Valley. Eric has over fifteen years of automotive experience and a B.A. in computer science. These skills, combined with technical writing and news reporting, allows him to fully understand and identify new and innovative technologies in the automotive industry and beyond. He has worked on self-driving cars and as a technical writer, helping people to understand and work with technology. Outside of work, Eric likes to travel to new places, play guitar, and explore the outdoors.
Autonomous Driving Startup Aurora to Acquire Lidar Company Blackmore
GM Faces Pushback From U.S. Regulators in its Effort to Deploy Self-Driving Cars
Consumer Reports Says Tesla’s Autopilot Performs Worse Than a Human Driver
The U.S. Postal Service is Testing Mail Delivery Using Self-Driving Trucks From TuSimple
GM Says its Vehicle Lineup Will Be Capable of Receiving OTA Updates Beginning in 2023
Air Taxi Startup Lilium Tests its Prototype 5-Passenger VTOL Electric Jet
Hyundai Develops a ‘Smart Air Purification’ System That Uses a Laser-based Sensor to Monitor Air Quality
U.S. Lawmakers Are Supporting a Electric Vehicle Supply Chain Policy to Help Secure Raw Materials for EV Batteries
- The Next Hyundai Kona Electric is Getting a 11 kW 3-Phase Onboard Charger
- Singapore Develops Driverless Solutions for the Elderly
- Daimler AG Looking to increase its Stake in BAIC Motors, its Joint Venture Partner in China
- Ford Invests $500 Million in Electric Truck Startup Rivian, Is There an Electric F-150 Coming Soon?
- U.S Drops Plans Requiring a Throttle, Brake Override System in Vehicles
- Georgia Institute of Technology Finds Autonomous Cars Struggle to Detect Pedestrians With Dark Skin
- Study Reveals Consumer Views on Driverless Car Makers, Tech and Trust
- All You Need to Know About Rivian’s Design Center and Giant EV Battery Pack
- Tesla Shares Details of its New Self-Driving Chipset at ‘Autonomy Investor Day’
- Toyota AI Ventures Announces New $100 Million Fund for Autonomous Mobility and Robotics