Serve Robotics enters strategic license and support agreement with Magna for autonomous delivery tech

Serve Robotics Inc. /DE/

Serve grants Magna a non-exclusive license to Serve AMR Technology for commercializing autonomous delivery products.
Serve to provide engineering, technical, and development support services to Magna for commercialization.
License survives termination only to support existing Magna customers; no financial terms disclosed.
Magna may manufacture AMR Vehicles using Serve's manufacturing data package; ownership of modifications split by IP origin.
Partnership includes a Master Services Agreement and a Production and Purchase Agreement, not filed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Serve Robotics Inc. /DE/ entered into License and Services Agreement with Magna New Mobility USA, Inc. (effective 2024-02-20).

Action: entry
Agreement: license
Counterparty: Magna New Mobility USA, Inc.
Effective: 2024-02-20

Exact text from the filing

On February 20, 2024, Serve Operating Co. (“Serve”), a wholly owned subsidiary of Serve Robotics Inc. (the “Company”), entered into a License and Services Agreement (the “LSA”) with Magna New Mobility USA, Inc. (“Magna”) as a part of a strategic partnership with Magna.

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Serve Robotics Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0001213900-24-016482

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