Delphi Automotive Takes Another Step Towards Becoming a Driverless Car Investment
If you're invested anywhere in the automotive industry, you've no doubt heard and read the words "autonomous vehicles" about a million times already. Even if you sometimes mentally swap in such alternative descriptors as "driverless cars" or "self-driving cars," you're probably feeling a bit of burnout on the subject.
But let's be clear. Autonomous vehicles are here to stay, and they're only going to get more important. And as the technology that powers them develops, it's becoming increasingly clear that Delphi Automotive (NYSE: DLPH) will be a brilliant long-term investment -- a thesis that was only made stronger by the company's most recent move.
Delphi announced Tuesday it was acquiring nuTonomy Inc. for a price of up to $450 million, depending on earn-outs. You probably aren't familiar with nuTonomy, but this is a big move for Delphi as it tries to build itself into a leading developer of autonomous vehicle technology. The privately held software firm, founded in 2013, will bring its 100-plus employees, including 70 engineers and scientists, to Delphi's autonomous driving team, basically doubling group's size overnight.
Source: Fool.com
