Economy

Fiat Chrysler in talks with Aurora on autonomous vehicles | AP business

Fiat Chrysler in talks with Aurora on autonomous vehicles | AP business

In a brief statement, made public on Sunday (June 9th), the self-driving startup, Aurora said following its advanced stage tie-up talks with Fiat Chrysler, "The deal with one of the Big Three will expand Aurora's scope, allowing us to offer a variety of solutions to strategic customers in logistics, transit and other use cases", however, the Aurora officials did not disclose the financial terms of the agreement.

A pioneer in the autonomous field, Aurora employs over 200 at offices in Pittsburgh, Palo Alto and San Francisco.

FCA brings deep expertise in the design, development and manufacturing of a wide range of commercial vehicles, as well as established relationships with a broad range of suppliers, dealers and commercial vehicle customers needed to deploy this technology.

Fiat Chrysler had proposed a merger with Renault in part to enable the two companies to share the substantial cost of developing self-driving cars and electric vehicles.

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FCA's merger proposal called for the creation of a company 50 percent owned by FCA shareholders and 50 percent by Renault shareholders.

The merger is set to take place amidst believes that it may take longer for autonomous vehicles to run on the roads, sources mentioned. In the past Ford said it aimed to have driverless cars with no steering wheel and no pedals in mass production by 2021. By the time Aurora was formed, Waymo and GM's Cruise had been working on their technology for four years or more. "The Aurora Driver has been integrated into six vehicle platforms ranging from Sedans to SUV's and minivans, to Class 8 trucks and commercial vehicles", Aurora said in a news release.

Aurora in February raised $350 million in funding from investors that included online giant Amazon.

The partnership is the latest in a steady stream for Aurora, which already has deals in place with Volkswagen, Hyundai and Byton. We are building the Aurora Driver, a platform that brings together the software and hardware to power the transportation of the future.