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Stellantis to buy software developer aiMotive in autonomous driving push

FILE PHOTO: FILE PHOTO: Stellantis logo on a company's building in Velizy-Villacoublay near Paris

MILAN (Reuters) - Carmaker Stellantis said on Thursday it had agreed to buy aiMotive, a Hungary-based developer of advanced artificial intelligence and autonomous driving software, to advance its technology development efforts.

No financial details of the transaction were 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 a 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.

($1 = 0.9640 euros)

(Reporting by Agnieszka Flak, editing Federico Maccioni)