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 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. 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. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Uber is also working on building out its freight logistics platform but is not operating its own trucks at present. (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 sources familiar with the matter. 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. An Uber ATG car, now to be a unit of the combined Aurora. Effectively, Uber is paying Aurora to take the division off its hands. Uber’s victory in California could have ramifications in other states as it seeks ways to lower its labor costs. As expected, Uber is selling off its self-driving unit. And thanks for reading Autoblog. 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. Uber selling self-driving unit to Silicon Valley start-up Aurora Uber ’s self-driving unit, Advanced Technologies Group (ATG), is being acquired by … ‎1. The sale could be confirmed within the next few weeks. You must have JavaScript enabled to experience the new Autoblog. It has also been the subject of lawsuits, with rival Waymo alleging some of its former … In 2018, one of Uber’s test vehicles struck and killed a pedestrian in Arizona. Robot taxis will come later, with Uber licensing the tech from Aurora. 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."." You may order presentation ready copies to distribute to your colleagues, customers, or clients, by visiting http://www.autobloglicensing.com. 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. The company’s self-driving efforts have been marred by setbacks and controversy. In the near term, the startup will put ATG’s expertise to use on a self-driving truck it’s working on. The side ballot successfully overturned the state’s AB5 law, which had classified gig economy workers as employees. The likeliest buyer is the startup Aurora Innovation, which is backed by Amazon and helmed by Google’s former self-driving chief, Chris Urmson. Uber sells ATG self-driving business to Aurora at $4 billion. 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. Uber and Aurora will enter into a collaboration agreement to launch self-driving vehicles on the Uber ride sharing network. All rights reserved. Uber will hold about 26% ownership interest in Aurora on a fully diluted basis, the company said in a filing. 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. 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. There could be more belt-tightening in Uber’s future as it attempts to find a path to profitability. It’s not surprising Uber eventually came to the decision to stop working on autonomous vehicles. 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. Uber sells ATG self-driving business to Aurora at $4 billion. Please follow the instructions below to enable JavaScript 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 … Uber's partnership with Aurora is not exclusive. ©2021 Verizon Media. Once worth over $7B, this sale would come almost three years after Uber's autonomous driving ambitions were … Thanks for that. As rumored earlier, Uber UBER has sold their ATG self-driving unit … 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 … You still haven't turned off your adblocker or allowed our site. AFP via Getty Images. 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. At Uber ATG, we are dedicated to making every mile we drive on the track and on public roads count. 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. Khosrowshahi, who will take a seat on Aurora's board, said Uber's profitability was not the leading factor in the deal. We get it. 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 companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve profitability. It only takes a few seconds. And free is good, right? Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. AD “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. This page is for personal, non-commercial use. 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 … Khosrowshahi said Uber would continue to install self-driving technology on a variety of vehicle makes, but called the relationship with Aurora "special.". His next move, according to TechCrunch, could be a sale of Ubers autonomous-vehicle unit, the Advanced Technologies Group (ATG). News, Reviews, Photos, Videos delivered straight to your in-box. Uber Sells ATG Self-Driving Unit It wasn't disclosed how much the buyer, Aurora, will pay for the business. A drop down menu will appear. Click on the icon for your Adblocker in your browser. Dive Insight: Uber's ATG arm has seen a difficult few years of enduring several controversies. 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. “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.”. As expected, Uber is selling off its self-driving unit. 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. At ATG, we pride ourselves on the amazing team we’ve built. 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. It was last valued at over $3 billion in September 2019, according to PitchBook data. Uber has put Advanced Technologies Group, its autonomous driving division, on the chopping block, reports TechCrunch. Uber selling ATG News is circulating that Uber is prepping a sale of its self-driving car division Uber ATG -- Advanced Technologies Group -- to Aurora. 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. 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. You must be logged in to perform that action. AD. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. Ads can be annoying. With the acquisition of Uber’s Advanced Technologies Group (ATG) – including the team and technology, but not ATG chief Eric Meyhofer – … Uber is currently in discussions to sell its Advanced Technologies Group (ATG) self-driving vehicles unit to Aurora, TechCrunch reported. A unit of the combined Aurora law, which is backed by Amazon and helmed Google’s... Aurora will enter into a collaboration agreement to launch self-driving vehicles unit to Aurora at $ 4 billion, to! 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