MILAN -- Stellantis has agreed to buy aiMotive, a developer of advanced artificial intelligence and autonomous driving software, to advance its technology development efforts, the company said in a statement.
No financial details of the transaction have been disclosed.
The acquisition enhances Stellantis' artificial intelligence and autonomous driving core technology, expands its global talent pool, and boosts the mid-term development of its all-new STLA AutoDrive platform, the company added in the statement.
The deal also supports Stellantis' ambition to generate around 20 billion euros ($20.75 billion) in additional annual revenues by 2030 from software-enabled product offerings and subscriptions.
Budapest-based aiMotive has offices in Germany, the U.S. and Japan and employs over 200 employees worldwide, including engineers with advanced artificial intelligence and autonomous driving expertise.
The startup will operate as a subsidiary of Stellantis, maintaining its operational independence and culture. Founder László Kishonti will remain as CEO. Kishonti is a 2019 Automotive News Europe Rising Star.
The startup will continue selling three areas of its current technology product portfolio, including aiData, aiSim and aiWare, to other partners, the statement said.