Tech companies in Georgia have announced the purchase of $500m worth of autonomous vehicle technology from Georgia Tech, the state’s largest university.
The move comes as Georgia, which is ranked fourth in the US in per capita spending on research and development, has seen a number of recent high-profile investments in autonomous vehicle research.
The state’s top university has been the subject of several high-tech media coverage over the past few years.
“The acquisition of Georgia Tech’s advanced autonomous vehicle technologies will help us accelerate the development of next-generation autonomous vehicles, and is a key step in our ongoing commitment to invest in the state of Georgia,” Georgia Tech President John Thrasher said in a statement.
The Georgia Tech University Foundation, a philanthropic organisation that funds research, is expected to invest $500,000 in Georgia Tech.
The purchase will see Georgia Tech invest up to $250m in autonomous driving technologies in Georgia and other US states.
The university will use the funds to further its research in autonomous vehicles.
The announcement comes at a time when Georgia is facing a number issues surrounding the use of autonomous vehicles in the real world.
The state recently banned the use in public of autonomous cars on the state roads due to safety concerns, and it has been facing criticism over the state law.
Georgia Tech said that the funds will support the university’s efforts to increase Georgia’s research in automotive and mobility technology.
“Georgia Tech will use these funds to accelerate our research in these fields, while leveraging Georgia Tech as a major research partner and an important economic engine for the state,” Thrashers said.
Read more at Tech Nine