Aurora partners with Continental for exclusive autonomous trucking hardware deal; production start in 2027

Aurora Innovation, Inc.

Continental to deliver Aurora Driver hardware kits and fallback system; start of production expected 2027.
Hardware-as-a-service model: Aurora pays Continental per-mile; development costs capped at $345M.
Exclusive partnership with defined exclusivity periods for L4+ systems and AD kit suppliers.
Aurora Horizon trucking subscription service expected to launch in 2024, before hardware production.
Milestones for development and commercialization with remedies for missed deadlines.

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

Aurora Innovation, Inc. entered into Strategic Partnership Agreement with Continental Automotive Technologies GmbH and its wholly owned subsidiary, Continental Autonomous Mobility GmbH (collectively, 'Continental') (effective 2023-04-26).

Action: entry
Agreement: collaboration
Counterparty: Continental Automotive Technologies GmbH and its wholly owned subsidiary, Continental Autonomous Mobility GmbH (collectively, 'Continental')
Effective: 2023-04-26

Exact text from the filing

On April 26, 2023, Aurora Innovation, Inc. and its wholly owned subsidiary, Aurora Operations, Inc. (collectively, “ Aurora ”), entered into a Strategic Partnership Agreement (the “ SPA ”) with Continental Automotive Technologies GmbH and its wholly owned subsidiary, Continental Autonomous Mobility GmbH (collectively, “ Continental ”), pursuant to which Continental will, among other things, act as Aurora’s “Hardware-as-a-Service” partner for the production, provision, and full lifecycle support of Aurora’s future generation of its Aurora Driver hardware system (the “ AD Kits ”).

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Aurora Innovation, Inc. filing history →

Source: SEC EDGAR

accession 0001828108-23-000073

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