Uber sells its autonomous vehicle group to Aurora, changing its valuation to $10 billion

December 07, 2020
Consumer More...
by Lewie Roberts
Truly disruptive

Uber is selling its autonomous vehicle (AV) unit and investing $400 million into AV company Aurora, giving Uber a 26% stake. Those who had invested in Uber ATG, such as Toyota, Denso, and SoftBank Vision Fund, will become minority shareholders. Unlike Uber, Aurora has placed a greater focus on autonomous trucking as the first application of autonomous vehicles, though it will pursue other applications of its AV tech, such as robotaxi services, in the future. A partnership with Uber will undoubtedly aid in the pursuit of this goal, but clients should be more focused on the huge shift of resources (money, talent, software, data) that is going from Uber's ride-hailing-focused strategy to Aurora's trucking-focused one.

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