Uber in talks to sell its ATG self-driving unit to Aurora: Source

  • Uber has been seeking options for its autonomous vehicle divisions, a heavy cash burn machine, including seeking more outside investment.
Uber's self-driving car
Uber's self-driving car

Uber Technologies Inc is in talks to sell its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, a source familiar with the matter told Reuters.

The talks are still ongoing and there is no certainty a deal could be reached, the source said, adding that Uber is also considering taking stake in the new company if Aurora takes over ATG.

Also check these Vehicles

Find more Cars
Mahindra Ekuv100 (HT Auto photo)
UPCOMING
BatteryCapacity Icon40 kWh Range Icon150 Km
₹ 8.25 - 10 Lakhs
Alert Me When Launched
Porsche 911 Gt3 (HT Auto photo)
Engine Icon3996.0 cc FuelType IconPetrol
₹ 2.50 Cr
Compare
View Offers
Mahindra S204 (HT Auto photo)
UPCOMING
₹ 12 Lakhs
Alert Me When Launched
Lexus Nx (HT Auto photo)
Engine Icon2494.0 cc FuelType IconMultiple
₹ 64.90 - 71.60 Lakhs
Compare
View Offers
Rolls-royce New Ghost (HT Auto photo)
UPCOMING
Engine Icon6750 cc FuelType IconPetrol
₹ 6.95 - 7.95 Cr
Alert Me When Launched
Mercedes-benz Amg E53 Cabriolet (HT Auto photo)
Engine Icon2999.0 cc FuelType IconPetrol
₹ 1.30 Cr
Compare

Uber's ATG, which works to develop autonomous driving technology, counts Toyota Motor Corp and SoftBank Group Corp among its investors. Earlier last year, the unit had raised $1 billion (758 million pounds) from a consortium of investors including SoftBank, that valued it at $7.25 billion.

Also Read : Lidar technology firm Velodyne to price new self-driving car sensor below $500

Uber has been seeking options for its autonomous vehicle divisions, a heavy cash burn machine, including seeking more outside investment, as Chief Executive Officer Dara Khosrowshahi refocused on core businesses including ride-hailing and food delivery since the pandemic hit.

Uber and Aurora declined to comment. TechCrunch was the first to report about this deal.

Also Read : Self-driving firm Pony.ai gets funding from China carmaker's FAW

Aurora is among dozens of startups, automakers and large technology companies working on self-driving car systems, eager to capitalize on a sea change in the transportation industry.

The startup, which is already testing its vehicles in the San Francisco Bay Area and Pittsburgh, in July said it was expanding testing and development of its vehicles to Dallas-Fort Worth Area in Texas.

Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.

First Published Date: 15 Nov 2020, 09:58 AM IST
NEXT ARTICLE BEGINS

Check Latest Offers

Please provide your details to get Personalized Offers

Choose city
+91 | Choose city
Choose city
Select a dealer

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.