Automotive Suppliers Delphi has announced plans to acquire $ 450 million worth of NuTonomy car startup.
The deal consists of a $ 400 million purchase price for NuTonomy and an additional $ 50 million for earn-outs. It is just the newest business in the autonomous vehicle industry this year and is another example of companies looking for or working with partnerships to accelerate the development of self-driving cars.
Founded in 2013, NuTonomy develops autonomous technologies and made headlines last year after launching a self-driving taxi service in Singapore. .
In a statement, NuTonomy CEO Karl Iagnemma said the deal will help the two companies sell autonomous systems to other brands.
"We have, between us, really outstanding technical know-how – on the scientific side, on the algorithmic side.
" We now have in-depth know-how in the field of automotive engineering , And we have lines, ways to sell them to all the different companies that can influence autonomous driving through traditional OEM channels and through mobility services.
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