Boston Based Self Driving Startup NuTonomy, Acquired By Delphi For $450 Million
- Nutonomy is a Singapore & Boston based startup that is deep into Autonomous vehicles.
- Delphi is one of the biggest manufacturers and the leading supplier of automobile parts and technology to Automotive companies. Their recent interest has been heavily into leading the Autonomous revolution.
Delphi acquires Nutonomy for $450 Million USD
Things to know:
- Delphi gets neck deep into Autonomous technology with this acquisition. There Driver-less Vehicles team will nearly double with Nutonomy team included as well.
- Recently Nutonomy has partnered with LYFT and French car maker Peugeot to provide their Driver-less technology and help them in testing the vehicles on roads.
- Deplhi already has invested in a Carnegie Mellon University based Autonomous vehicles company Ottomatika.
Delphi and nuTonomy have been working separately in the autonomous-vehicle space for years, with each taking different approaches. But now, they’re combining forces to bring autonomy to the masses. Delphi has agreed to purchase nuTonomy for $450 million, with $400 million coming up front and $50 million arriving as earnouts. Similar to GM and Cruise Automation, nuTonomy will continue to operate in a quasi-standalone manner — that is to say, nuTonomy’s name won’t be going anywhere.
We have, between us, really outstanding technical expertise — on the scientific side, on the algorithmic side. So I feel great about the fact that this acquisition puts the combined team in the pole position to be one of the winners in the global automated driving race
–NuTonomy CEO Karl lagnemma
Delphi laid out the three main reasons why this acquisition is happening — skills, speed and scale. In terms of skills, nuTonomy will add more than 100 employees to Delphi’s Ottomatika autonomous-driving team. In terms of speed and scale, the hope is that putting this many heads together will accelerate Delphi’s goal to deploy an autonomous-driving platform on a large scale. With the completion of this purchase, Delphi will have autonomous driving operations in Boston, Pittsburgh, Singapore, Santa Monica, and Silicon Valley and the company aims to have 60 autonomous cars on the road by the end of the year.