Uber sells self-driving car unit to Aurora and takes start-up stake after pandemic crushes revenue

//Uber sells self-driving car unit to Aurora and takes start-up stake after pandemic crushes revenue

Uber sells self-driving car unit to Aurora and takes start-up stake after pandemic crushes revenue

Uber Technologies sold its self-driving car division to Aurora Innovation and took a stake in the start-up, pulling back from its vision for a fleet of autonomous taxis to focus on turning a quarterly profit next year after the pandemic crushed revenue.The deal will value Aurora at US$10 billion, according to people familiar with the talks who asked not to be identified discussing private information. In exchange for investing US$400 million in Aurora, Uber will get a 26 per cent ownership…

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By | 2020-12-08T01:59:34+00:00 December 8th, 2020|Technology|Comments Off on Uber sells self-driving car unit to Aurora and takes start-up stake after pandemic crushes revenue