Uber, hard-hit by pandemic, sells its robot-vehicle division
December 6, 2020
SAN RAMON, Calif. (AP) — Uber is selling off its autonomous vehicles development arm as the ride-hailing company slims down after its revenues were pummeled by the coronavirus pandemic.
Self-driving vehicle technology company Aurora will acquire the employees and technology behind Uber's Advanced Technologies Group in an stock transaction, the companies said Monday.
Uber will also invest $400 million into Aurora, and Uber's CEO Dara Khosrowshahi will join Aurora's board of directors.
After the transaction, Aurora will be worth $10 billion and Uber will hold 26% stake in the company, Auror...