Serve Robotics Inc., commonly known as SERV, has announced that they will be expanding their existing agreement with Magna International Inc., a renowned international company traded as MG.TO and MGA. This expansion is intended to expedite the inclusion of robotics in the logistics sector. As part of this agreement, Magna will step in as the exclusive contract manufacturer for Serve's delivery robots. This move will support Serve's plan to launch as many as 2,000 robots on the Uber Eats platform across multiple markets in the United States.
Further stretching the scope of their collaboration, the agreement builds upon a licensing agreement which was signed on February 20, 2024. As per this agreement, Serve provided Magna with a non-exclusive license to leverage its technologies and expertise. This supportive move was aimed at enabling Magna to forge ahead with developing novel products in the logistics and robotics space.
Established as a standalone company in 2021, after splitting from Uber, Serve Robotics is dedicated to developing highly advanced sidewalk delivery robots. These robots are AI-powered offering low-emissions, therefore, contributing towards a sustainable future.
