Words: Josh Lee
As part of a push to offload cash-burning projects and cop a few greenbacks in 2021, Uber has decided to vend its driverless car unit, Advanced Technologies Group, to Silicon Valley start-up Aurora. The $4 billion deal, expected to be sealed by March, will bring an end to the ride-hailing company’s hopes of manufacturing its own autonomous taxis.
It has been reported that Aurora, which currently flexes the backing of Amazon and Hyundai, is also set to receive $400 million in investment from Uber, which will, in return, secure a 26 per cent holding in the San Fran company. “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,” said CEO Chris Urmson on Monday.
The move comes despite the fact that Uber founder, Travis Kalanick, saw driverless technology as a solution that would eventually make the taxi-app firm’s services more economical. The company does, however, hope to team up with Aurora when the time comes to roll out the vehicles on its network.
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