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Magna hires 120 engineers, acquires self-driving tech, from Boston AV company Optimus Ride

Canadian provider Magna International Inc. struck a cope with Optimus Ride to hire greater than 120 of the Boston self-driving shuttle company’s engineers and purchase its autonomous-vehicle expertise and mental property.

Terms weren’t disclosed in a press release launched Tuesday.

While Magna will not be outright buying Optimus, the provider has employed majority of its engineers as a part of the transaction. A spokesperson for Magna stated the company despatched affords of employment to greater than 140 “engineering-related employees,” with greater than 120 accepting.

The transaction means Optimus Ride has discontinued its industrial actions, which weren’t a part of the deal. The company had deployed autonomous shuttles in city, geofenced environments in Boston, New York, Virginia, California and Washington, D.C

“Optimus Ride is not continuing those commercial activities, and they were not part of the transition with Magna,” Optimus CEO Sean Harrington stated in an interview. “But the engineering team and the underlying technology that we’ve developed — I’m excited to see that get deployed in the context of Level 2 and Level 3 autonomy” at Magna.

Harrington stated there have been no “go-forward” plans for Optimus Ride after the transaction. The former Verizon government stated he wouldn’t be becoming a member of Magna and would take time to find out the following steps in his career.

The former Optimus engineers will stay within the Boston space, establishing an “engineering center and presence for Magna in a community rich in engineering talent, leading academic institutions and robotics,” Magna stated in a information launch. The hires had been efficient Jan. 1, in keeping with the provider.

The hires come because the business and suppliers equivalent to Magna proceed to take a position closely in superior driver-assist techniques and autonomous driving expertise. Magna Electronics President John O’Hara stated the addition of Optimus Ride’s engineers to its group will assist to “accelerate [its] path forward in a rapidly growing ADAS market.”

“As advancements in autonomy continue, we saw an opportunity to bring in additional expertise to support current programs as well as future customer needs,” he stated in a information launch.

Harrington stated Optimus Ride had beforehand developed a “very good relationship” with Magna, one which resulted in fruitful talks between the businesses within the latter half of 2021.

“Through those conversations, it became clear that this was the best path forward for all stakeholders in the company,” he stated.

Magna, based mostly close to Toronto, ranks No. 4 on the Automotive News listing of the highest 100 international suppliers, with worldwide gross sales to automakers of $32.6 billion in 2020.

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