Delphi signs agreement to acquire nuTonomy
Delphi Automotive has signed an agreement to acquire nuTonomy, Inc. for a total of $450 million.
Through the acquisition, nuTonomy will help accelerate Delphi’s commercialization of autonomous driving (AD) and Automated Mobility on-Demand (AMoD) technologies for automakers and new mobility customers across the globe.
“Our mission has always been to radically improve the safety, efficiency, and accessibility of transportation worldwide,” says 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.”
Iagnemma, along with Dr. Emilio Frazzoli, founded nuTonomy back in 2013.
The company, which is currently in the process of developing a “proprietary full-stack AD software solution for the global AMoD market,” will add more than 100 employees to Delphi's AD team, which already has more than 100 members.
“We are delighted to welcome Karl, Emilio, and their talented team to Delphi,” comments 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.”
Once the transaction is complete, Delphi will have AD operations in Boston—nuTonomy will continue to be based in the city—as well as operations in Pittsburgh, Santa Monica, Silicon Valley and Singapore.
By the end of the year, between Boston, Singapore, and other pilot cities around the world, Delphi will have 60 autonomous cars on the road across three continents. In Boston, both companies currently operate AMoD pilot programs.