(CercleFinance.com) – Stellantis announced on Thursday that it would accelerate its research into autonomous driving through the acquisition of aiMotive, a Hungarian start-up specializing in artificial intelligence and autonomous driving.
In a press release, the automotive group explains that aiMotive’s technology will enable it to boost the development of STLA AutoDrive, its autonomous driving technology platform, in the medium term.
Based in Budapest, aiMotive has offices in Germany, the United States and Japan and employs more than 200 highly experienced staff, mainly engineers specializing in artificial intelligence and autonomous driving.
Under the terms of the agreement, aiMotive will continue to operate as a subsidiary of Stellantis, thereby preserving its independence and start-up philosophy. Laszlo Kishonti, its founder, will remain its managing director.
Stellantis says it plans to set up a board of directors to oversee aiMotive, while preserving its innovation-driven start-up culture.
It is expected that its teams will work in close collaboration with those of the Hungarian start-up.
Financial terms of the acquisition were not disclosed.
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