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© nuTonomy Electronics Production | October 25, 2017

Delphi acquires autonomous driving startup for $450 million

Delphi Automotive has signed an agreement to acquire nuTonomy, Inc. for an upfront purchase price of USD 400 million and earn-outs totalling approximately USD 50 million.
The transaction aims to accelerates Delphi’s commercialisation of AD and Automated Mobility on-Demand (AMoD) solutions for automakers.

Founded in 2013, nuTonomy is developing a proprietary full-stack AD software solution for the global AMoD market. The company will add more than 100 employees, including 70 engineers and scientists, to Delphi’s AD team – and at the same time increase 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 AD 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. By combining efforts with nuTonomy in Boston, Singapore, and other pilot cities, Delphi will have 60 autonomous cars on the road across three continents by year-end.

“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.”

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August 20 2018 3:56 pm V10.1.0-1