Delphi, an auto parts manufacturer that's been heavily focused on autonomous vehicles, is buying nuTonomy for $400 million. nuTonomy is a startup that came out of work at MIT. It's launched autonomous vehicle tests in Singapore and it's close to operating in Boston. The startup has done a lot of work on software for self-driving cars.
This deal is taking place for an upfront cost of $400 million along with earn-outs worth $50 million. Delphi has made other significant investments to position itself to be a major supplier in the autonomous vehicle industry.
This transaction is another example of our ongoing dedication to developing, implementing, and commercializing the highest performing and safest [autonomous driving] system available,- Kevin Clark, CEO, Delphi
Delphi is working with BMW, Intel, and Mobileye on sensors, cameras, and software for self-driving cars.
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