Delphi Acquiring nuTonomy
The Boston-based self-driving vehicle tech firm nuTonomy is now in the process of being acquired by Delphi Automotive, according to a press release from Delphi. The newly signed acquisition agreement between the two firms calls for an upfront purchase price of $400 million + earnouts totaling around $50 million.
For those unfamiliar with nuTonomy, the startup (founded in 2013) is working on the development of proprietary autonomous vehicle tech and automated mobility on-demand (robotaxi) solutions. It is currently conducting pilot projects in a number of places and has landed some major automotive industry partners.
The deal combines Delphi’s already 100+ member autonomous vehicle driving team with nuTonomy’s 100+ employees.
“We are delighted to welcome Karl, Emilio, and their talented team to Delphi,” stated Delphi’s President and CEO, 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.”
Following the completion of the acquisition, Delphi will possess self-driving vehicle development operations in a fair number of different locations — from Boston, to Silicon Valley, to Singapore, to Pittsburgh, to Santa Monica. Notably, though, the nuTonomy team will remain based out of Boston — where Delphi already operates as well.
The acquisition is expected to close before the year ends.
Tesla CEO Elon Musk commented on the news in a somewhat interesting way…
Groan
— Elon Musk (@elonmusk) October 24, 2017
It’s true tho
— Elon Musk (@elonmusk) October 24, 2017
Confused where all of these different firms land in the overall self-driving tech marketplace? Curious how they actually compete with each other? Check out Navigant Research’s best guess for more context on all of that.
Also, Comma.ai isn’t in that chart, but statements from George Hotz on this industry may be worth hearing. If you missed that CleanTechnica exclusive earlier this week, head here: Geohot: Tesla Autopilot = Apple iOS, Comma.ai = Android.
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