Uber says it’s selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora for $4 billion dollars.
Uber CEO Dara Khosrowshahi says this will help the company achieve profitability. Though Uber is popular, it’s never made a profit in its 11-year history.
But Uber isn’t giving up on self-driving cars.
The firm is investing $400 million in Aurora. It will have a 26 percent ownership interest on a fully diluted basis. And Uber’s CEO will sit on Aurora’s board.
The two will collaborate to launch self-driving vehicles on Uber’s ride-hailing and food delivery network.
Former heads at Tesla, Google, and Uber founded Aurora in 2017. PitchBook data evaluated the firm at $3 billion dollars back in September 2019.
NTD talked to the CEO of TerraNet, Pär–Olof Johannesson, about Uber’s deal with Aurora.
TerraNet develops software and algorithms for advanced driver-assisted systems (ADAS) for driverless fleets.
