Magna Acquires Autonomous Vehicle Startup Optimus Ride
Magna International, a Canadian developer of automotive mobility technologies, has acquired the technology, intellectual property and other assets of Boston-based Optimus Ride, which develops Level 4 autonomous vehicles (AV).
Magna has added more than 120 Optimus Ride employees to its team. The company plans to use their expertise to expand its capabilities in advanced driver-assistance systems (ADAS).
Optimus Ride was founded in 2015 after spinning out of the Massachusetts Institute of Technology. Its goal was to create electric, convenient AVs. The first prototype, a low-speed electric autonomous shuttle, was unveiled in 2016. Optimus Ride employees will remain in Boston, where they will form Magna's Boston engineering center. Optimus Ride will no longer operate as a company.
“Expanding our engineering bench in sensing hardware and software helps accelerate our path forward in the fast-growing ADAS market”
In 2017, Optimus Ride began testing its vehicles on the streets of Boston, receiving preliminary approval from the MassDOT AV program. The following year, the company launched its first residential community mobility pilot in Union Point in Weymouth, Massachusetts.
“As progress in autonomy continues, we saw an opportunity to bring in additional expertise to support current programs as well as future customer needs. We are pleased to welcome Optimus Ride employees to the Magna family”
The company launched mobility services in Virginia and New York in 2019. In 2020, in response to the COVID-19 pandemic, Optimus Ride repurposed its fleet to deliver more than 6,000 free meals to those in need in Washington, D.C. The company's vehicles were manually driven, delivering 50 to 80 meals per day.
At the time, the company said: "Automated technology systems have a historic opportunity to address mobility and logistics challenges both during and after the pandemic."
In July 2021, the Department of Energy awarded the company $4.3 million to deploy autonomous fleets and conduct drone research together with Clemson University, the University of California, Berkeley, and Argonne National Laboratory.
"A unique mix of manual and autonomous shuttles — all electric, all shared, all right-sized — that enable shared community mobility services and AV technology. We work with community groups to find the optimal fleet to meet their mobility needs today, while helping to advance AV technology adoption and innovation," Optimus Ride said.
Purpose-built, fully integrated AV software and hardware handles everything from localization to traffic management, enabling safe and efficient autonomous shuttle trips for campuses, communities and cities today.
Each deployment includes customized education and outreach campaigns, a consumer-grade rider app, friendly safety operators both in the vehicle and remotely, and ongoing engagement and support.
The Optimus Ride expert team handles everything: program planning and operations, fleet upgrades and management, and ongoing support. They use a set of real-time fleet management, dispatch, monitoring and reporting tools to launch each program on behalf of transportation groups.
For every community, campus and city, including academic and corporate campuses, residential and mixed-use communities, urban environments, airports, theme parks and hospitals, the company offered flexible, fixed and on-demand routes and connection points to meet mobility needs.
Optimus Ride benefits:
- Optimized trip, load and vehicle utilization
- Reduced parking requirements and development costs
- Lower fuel and labor costs
- Fun, convenient and safe driving
- Sustainability through reduced greenhouse gas emissions
- Enhanced brand recognition and community goals
According to Sean Harrington, CEO of Optimus Ride, the acquisition of Optimus Ride employees is part of a larger deal that includes the company's assets, technology and the underlying intellectual property.
Magna is one of the world's largest automotive suppliers. It is a mobility technology company with a global team of 154,000 employees and an organizational structure designed for innovation. Drawing on more than 60 years of experience and a systems approach to engineering and manufacturing that touches virtually every aspect of the vehicle, Magna employees are able to support the advancement of mobility in a transforming industry.
Magna's global network includes 347 manufacturing facilities and 90 engineering, design and sales centers in 28 countries.
