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Magna buys self-driving technologies from Optimus Ride

Magna International Inc., a Canada-based leading vendor of automotive components, has purchased the assets, technologies and IP rights of the U.S.-based startup Optimus Ride, TechCrunch reports. The transaction amount is not public, but the deal means the startup will cease to exist in the near future.

Optimus Ride was founded in Boston over six years ago and specialized in designing autonomous passenger buses. In 2019, its various models were used to carry passengers in Brooklyn docks and the Brookfield Properties HQ in Virginia. As the Covid-19 ravaged the country in 2020, autonomous cars brought free lunches to people in need in Columbia.

The standard shuttle bus has six passenger seats, eight cameras and three LiDARs. They use an electric powertrain to drive themselves on city streets, maxing out at 40 km/h (25 mph). The manufacturer claims they correspond to SAE Level 4 of autonomy, which means no driver is needed unless there is an emergency (and as long as the vehicle moves slowly enough for the on-board software to control it efficiently).

Aside from buying Optimus Ride assets and tech, Magna hired 120 employees from that company, not including CEO Sean Harrington. The Boston HQ of the startup firm will now be housing a new engineering department for robotics and software development.

Editor: Andrew Raspopov

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January 18, 2022


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