But in a way, none of those may have played as significant of a factor in Uber’s decision as the recent passing of Proposition 22 in California. As part of the deal, Uber will invest $400 million in Aurora, with CEO Dara Khosrowshahi joining the startup’s board of directors. Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve profitability. You must be logged in to perform that action. Dara Khosrowshahi is also joining the startup's board of directors. “With the addition of ATG, Aurora will have an incredibly strong team and technology, a clear path to several markets, and the resources to deliver,” Chris Urmson, the CEO of Aurora, said. [NEW YORK] Uber Technologies is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's … At ATG, we pride ourselves on the amazing team we’ve built. All rights reserved. Aurora, which is working to develop self-driving trucks, cars and delivery vehicles, will collaborate with Uber to launch self-driving vehicles on its ride-hailing and food delivery network. If you'd be so kind as to allow our site, we promise to keep bringing you great content. Thanks for subscribing. AD. But Uber has been seeking options for its autonomous vehicle division, a cash-burn machine, including more outside investment, as Khosrowshahi refocused on core businesses including ride-hailing and food delivery since the pandemic hit. An Uber ATG car, now to be a unit of the combined Aurora. It’s not surprising Uber eventually came to the decision to stop working on autonomous vehicles. READ: Apple co-founder’s crypto gains over 1,300% within a few days after launch Uber Technologies (UBER) has announced the sale of its autonomous vehicle technology business, ATG, to Aurora, an autonomous vehicle technology company, for an equity stake in … This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. Khosrowshahi, who will take a seat on Aurora's board, said Uber's profitability was not the leading factor in the deal. It only takes a few seconds. © 2021 Verizon Media. After being shopped around, ATG’s top suitor is also a key competitor: Aurora Innovation. NVIDIA hints at RTX 30 laptop graphics launch on January 12th, Early Solar System meteorites might explain how Earth got water, Ford and Nissan will cut vehicle production due to a chip shortage, Hyundai and Apple will reportedly sign an electric car deal by March, Lenovo's ThinkReality A3 Smart Glasses can show up to five virtual displays, Watch the 'Ratatouille' TikTok musical encore at 8PM Eastern, ICYMI: We take a listen to Apple's AirPods Max. Uber sells ATG self-driving business to Aurora at $4 billion. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Once worth over $7B, this sale would come almost three years after Uber's autonomous driving ambitions were … Uber Technologies is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. The likeliest buyer is the startup Aurora Innovation, which is backed by Amazon and helmed by Google’s former self-driving chief, Chris Urmson. All rights reserved. This page is for personal, non-commercial use. The 4-1-1: Aurora was co-founded by Chris Urmson, a former lead engineer for Google’s own self-driving project. The side ballot successfully overturned the state’s AB5 law, which had classified gig economy workers as employees. An Uber-owned AV struck and killed a pedestrian in Tempe, AZ two years ago, an incident that led the National Transportation Safety Board (NTSB) to say the company had an "inadequate safety culture."." But ads are also how we keep the garage doors open and the lights on here at Autoblog - and keep our stories free for you and for everyone. Uber is also working on building out its freight logistics platform but is not operating its own trucks at present. Uber and Aurora will enter into a collaboration agreement to launch self-driving vehicles on the Uber ride sharing network. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. AD A drop down menu will appear. 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. It has also been the subject of lawsuits, with rival Waymo alleging some of its former … As expected, Uber is selling off its self-driving unit. It was last valued at over $3 billion in September 2019, according to PitchBook data. His next move, according to TechCrunch, could be a sale of Ubers autonomous-vehicle unit, the Advanced Technologies Group (ATG). You still haven't turned off your adblocker or allowed our site. In 2018, one of Uber’s test vehicles struck and killed a pedestrian in Arizona. And thanks for reading Autoblog. Thanks for that. On Monday, the company confirmed the sale of its Advanced Technologies Group (ATG) to Aurora Innovation, one of its now previous competitors in the autonomous vehicle space. The exact text will differ depending on the actual application you have running. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … More recently, a federal judge sentenced Anthony Levandowski, the company’s former self-driving lead, to 18 months in prison for stealing trade secrets from his former employer, Waymo. This was disclosed in an announcement by Reuters on Monday evening. Uber's sale of ATG comes days after rumors of a deal in the works to sell its Uber Elevate flying taxi unit, also in development stages, to flying car developer Joby Aviation. Uber’s victory in California could have ramifications in other states as it seeks ways to lower its labor costs. Eric Volkman (TMFVolkman) Dec 7, 2020 at … You must have JavaScript enabled to experience the new Autoblog. At the start of December, it came out that the company was also in advanced talks to sell its flying taxi division to Joby Aviation. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor (NYSE: TM) Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. You may order presentation ready copies to distribute to your colleagues, customers, or clients, by visiting http://www.autobloglicensing.com. As expected, Uber is selling off its self-driving unit. There could be more belt-tightening in Uber’s future as it attempts to find a path to profitability. Uber will hold about 26% ownership interest in Aurora on a fully diluted basis, the company said in a filing. ©2021 Verizon Media. Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. "If the technology becomes real, I think our investment will be money good and then some," he said. The company’s self-driving efforts have been marred by setbacks and controversy. Please follow the instructions below to enable JavaScript in your browser. Uber sells ATG self-driving business to Aurora at $4 billion. AFP via Getty Images. Select the option to run ads for autoblog.com, by clicking either "turn off for this site", "don't run on pages on this domain", "allow this site" or similar. Uber Sells ATG Self-Driving Unit It wasn't disclosed how much the buyer, Aurora, will pay for the business. Robot taxis will come later, with Uber licensing the tech from Aurora. The Palo Alto, California-based startup, which is already testing vehicles in the San Francisco Bay Area and Pittsburgh, said in July it was expanding testing and development of its vehicles to the Dallas-Fort Worth area in Texas. Ads can be annoying. At Uber ATG, we are dedicated to making every mile we drive on the track and on public roads count. With the acquisition of Uber’s Advanced Technologies Group (ATG) – including the team and technology, but not ATG chief Eric Meyhofer – … 2021 Jeep Grand Cherokee L revealed with three rows, new platform, 2021 Jeep Grand Cherokee L vs Big Three-Row Crossovers | Spec comparison, New spy photos reveal next-gen Range Rover interior, Mazda's upcoming inline-six, rear-wheel-drive platform detailed by suppliers, Cars we're most looking forward to driving in 2021, Mickey Thompson's daily driver '63 Corvette Z06 could sell for up to $500,000. Check your in-box to get started. Uber is currently in discussions to sell its Advanced Technologies Group (ATG) self-driving vehicles unit to Aurora, TechCrunch reported. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … Khosrowshahi said Uber would continue to install self-driving technology on a variety of vehicle makes, but called the relationship with Aurora "special.". ‎1. Uber Technologies is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies … Uber selling self-driving unit to Silicon Valley start-up Aurora Uber ’s self-driving unit, Advanced Technologies Group (ATG), is being acquired by … We get it. Uber's partnership with Aurora is not exclusive. (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve profitability. Click on the icon for your Adblocker in your browser. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … The equity deal valued the ATG at $4 billion, according to people familiar with the matter. "This essentially advances our path to profitability," he said. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. Dive Insight: Uber's ATG arm has seen a difficult few years of enduring several controversies. Now, it’s up for sale and a competing autonomous vehicle technology startup is in talks with Uber to buy it, according to three sources familiar with the deal. The sale will accelerate Uber's goal to achieve profitability on an adjusted basis by the end of 2021, Chief Executive Officer Dara Khosrowshahi told Reuters in an interview. The equity deal valued the ATG at $4 billion, according to sources familiar with the matter. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which with the acquisition is valued at $10 billion, the sources added. Last year Toyota, Softbank and Denso teamed up to invest $1 billion in Uber ATG in a deal that valued the self-driving focused spinoff at $7.25 billion. News, Reviews, Photos, Videos delivered straight to your in-box. Ride-hailing giant, Uber, has announced the sale of its self-driving unit, Uber Advanced Technologies Group (ATG), to another self-driving company called Aurora at $4billion. Uber has put Advanced Technologies Group, its autonomous driving division, on the chopping block, reports TechCrunch. And free is good, right? Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company`s goal to achieve profitability. In the near term, the startup will put ATG’s expertise to use on a self-driving truck it’s working on. The sale to Aurora puts Uber’s ATG division in the hands of a company that has prided itself on a slower approach to autonomy with an emphasis on safety. Effectively, Uber is paying Aurora to take the division off its hands. The sale could be confirmed within the next few weeks. We’re looking for world-class researchers, engineers, and product specialists who prioritize safety and want to join our mission to bring safe, reliable self-driving transportation to everyone, everywhere. Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve profitability. On Monday, the company confirmed the sale of its Advanced Technologies Group (ATG) to … The sale will accelerate Uber's goal to achieve profitability on an adjusted basis by the end of 2021, Chief Executive Officer … When you see our vehicles on the road, you can rest assured that they’re doing important work that supports our efforts to deliver safe, reliable self-driving transportation. “Simply put, Aurora will be the company best positioned to deliver the self-driving products necessary to make transportation and logistics safer, more accessible, and less expensive.”. 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