Magna acquires autonomous EV tech, personnel from Optimus Ride

Magna announced it has acquired the IP and assets of Optimus Ride, as well as 120 engineers employed by the Boston-based developer of autonomous EV shuttles. The Ontario auto parts maker says the acquisition of the MIT spin-off start-up will bolster Magna’s advanced driver assistance systems (ADAS) capabilities.

“As advancements in autonomy continue, we saw an opportunity to bring in additional expertise to support current programs as well as future customer needs. We are happy to welcome the Optimus Ride employees to the Magna family,” said Magna Electronics President, John O’Hara.

According to Magna, the engineering team will remain in Boston, establishing a Boston-based engineering center and presence for Magna.
www.magna.com
www.optimusride.com