Tesla announces $1.3B acquisition of autopilot startup AutopilotLink
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Tesla Motors Inc. said it has acquired Autopilots, a company founded by former Google Inc. executive and former CEO Sundar Pichai, for $1 billion in cash.
Tesla said it plans to create an autonomous vehicle network, which will be known as the Autopiliks.
The acquisition gives Tesla access to some of the technology Pichae co-founded with former Google executives Eric Schmidt and Baoqiang Li.
The company will be led by the current CEO of Autopillars, which is headquartered in New York City.
The deal follows Tesla’s $1bn purchase of Autosteer, which allows drivers to use their smartphone or tablet to navigate autonomous vehicles.
The Palo Alto, Calif., company is developing an autopilot technology that would allow Tesla to use the cars on public roads.
Autopiloks has a range of about 10 miles, compared to about 18 miles for the Google car.
Tesla is also looking to develop an autopilots for self-driving taxis.
It’s not clear when the companies plans to merge, but the acquisition will give Tesla access, as well as access to existing technology, to the Autostel’s technology.
Tesla, which said it expects to begin shipping vehicles in 2021, is building a fleet of more than 500,000 vehicles that it plans for commercial rollout later this year.
Tesla will continue to build autonomous vehicles in California and Nevada.
Tesla Motors Inc. said it has acquired Autopilots, a company founded by former Google Inc. executive and former CEO Sundar…