As the race to self-driving vehicles continues, so has consolidation. Magna International Inc. today said it has hired more than 120 employees of Optimus Ride Inc. Aurora, Ontario-based Magna said the engineers from the Boston-based autonomous shuttle developer will help its capabilities in advanced driver-assistance systems, or ADAS.
“Growing our engineering bench strength in sensing hardware and software helps accelerate our path forward in a rapidly growing ADAS market,” stated John O’Hara, president of Magna Electronics.
The companies did not disclose financial terms of the acquisition, and Magna will also gain Optimus Ride's assets and intellectual property.
Magna combines vehicle expertise
Founded in 2015 by former members of MIT's team in the 2007 DARPA Urban Challenge, Optimus Ride has been developing electric, autonomous vehicles to serve residential communities, corporate and academic campuses, and mixed-use developments. The company received a grant from the U.S. Department of Energy in July 2021 to deploy its shuttle fleet at Clemson University.
Magna claimed that it is one of the world's largest automotive suppliers. The mobility technology provider has more than 60 years of experience in vehicle design, engineering, and manufacturing. The company has 154,000 employees; 347 manufacturing operations; and 90 product development, engineering, and sales centers in 28 countries.
Optimus Ride to stay in Boston
Magna said that it expects Optimize Ride's employees to help build on “its strengths and position as a global ADAS provider with comprehensive capabilities.”
Optimus Ride's team will remain in Boston’s Seaport district, where it has been testing its vehicles. The company is also a member of MassRobotics, an organization devoted to growing Massachusetts' robotics ecosystem.
Magna added that it will establish a Boston-based engineering center and presence “in a community rich in engineering talent, leading academic institutions, and robotics businesses.”
“As advancements in autonomy continue, we saw an opportunity to bring in additional expertise to support current programs as well as future customer needs,” O'Hara added. “We are happy to welcome the Optimus Ride employees to the Magna family.”
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