OTTAWA (dpa-AFX) - Serve Robotics Inc. (SERV) announced an expansion of
existing agreement with Magna International Inc. (MG.TO, MGA) to accelerate the
adoption of robotics in logistics. Magna will become the exclusive contract
manufacturer of Serve's delivery robots, supporting Serve's plan to deploy up to
2,000 robots on the Uber Eats platform across multiple U.S. markets.

The agreement extends the partnership established by a licensing agreement
effective February 20, 2024, under which Serve granted Magna a non-exclusive
license to its technologies and expertise, enabling Magna to further develop new
products in the robotics and logistics space.

Spun off from Uber in 2021 as an independent company, Serve Robotics develops
advanced, AI-powered, low-emissions sidewalk delivery robots.



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