Uber sells its autonomous vehicle unit for $ 4 billion

The American multinational Uber announced on Monday the sale of its unit of autonomous vehicles (which circulate without a driver) to the emerging company Aurora, in an operation that specialized media estimated at around 4,000 million dollars.

In an entry on its official blog, Aurora Innovation, based in Palo Alto (California, USA) confirmed the operation, and indicated that as part of it, Uber will invest 400 million dollars in cash in the company, which will control 26% of the shares.

The sale of the unit known as Advanced Technologies Group (ATG) is part of the strategy advanced by the CEO of Uber, Dara Khosrowshahi, to restructure the carpool firm to achieve that the company comes out of losses and begins to generate profits next year.

Under the agreement, Khosrowshahi will also serve on Aurora’s board of directors, founded by seasoned driverless vehicle engineer Chris Urmson.

“Few technologies are as promising in improving people’s lives with safe, accessible and environmentally positive transportation as autonomous vehicles. For the past five years, our great team at ATG has been at the forefront of this company.” Khosrowshahi noted when announcing the operation.

“By joining forces with Aurora, ATG is on the go to achieve those goals even faster. I am looking forward to starting working with Chris (Urmson) and bringing Aurora’s (automatic) driver to the Uber network in the years to come, “he concluded.

In early November, Uber announced losses of $ 5.799 million between January and September 2020, 22% less than the figure recorded in the same period of 2019, when it lost $ 7.41 billion.

The San Francisco company has been greatly affected this year by the covid-19 pandemic and the consequent reduction in mobility, which have caused its income to fall from 10,078 million in the first nine months of 2019 to 8,913 million today .



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.