Uber’s self-driving unit, Advanced Technologies Group (ATG), has been making headlines for a while now. However, after spending years trying to perfect the tech, Uber has decided to sell the unit to Aurora, the self-driving car company, for $4 billion. Both Uber and Aurora recently confirmed the news.
According to recent reports, as part of the deal, Uber will invest $400 million in Aurora, with CEO Dara Khosrowshahi joining the startup’s board of directors. This technically means that Uber is paying Aurora to take the division off its hands. Nevertheless, this acquisition will accelerate Aurora’s mission and the delivery of our first product safely, quickly, and broadly.
Chris Urmson, co-founder and CEO of Aurora, while talking about the acquisition, said,
By adding the people and technology of Uber’s Advanced Technologies Group to the incredible group we’ve already assembled at Aurora, we’re shifting the landscape of the automated vehicle space. With the addition of ATG, Aurora will have an incredibly strong team and technology, a clear path to several markets, and the resources to deliver. Simply put, Aurora will be the company best positioned to deliver the self-driving products necessary to make transportation and logistics safer, more accessible, and less expensive.
Uber has been facing major losses in the past year. Hence, in its attempts to find a path towards profitability, we might see more of such decisions. The company is allegedly planning on selling its flying taxi division to Joby Aviation as well.
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