Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. As part of the deal, Uber will invest $400 million in Aurora, with CEO Dara Khosrowshahi joining the startup’s board of directors. Uber is currently in discussions to sell its Advanced Technologies Group (ATG) self-driving vehicles unit to Aurora, TechCrunch reported. Uber and Aurora will enter into a collaboration agreement to launch self-driving vehicles on the Uber ride sharing network. The sale will accelerate Uber's goal to achieve profitability on an adjusted basis by the end of 2021, Chief Executive Officer … Uber will hold about 26% ownership interest in Aurora on a fully diluted basis, the company said in a filing. "If the technology becomes real, I think our investment will be money good and then some," he said. AD. As expected, Uber is selling off its self-driving unit. [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 … Uber's partnership with Aurora is not exclusive. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. The side ballot successfully overturned the state’s AB5 law, which had classified gig economy workers as employees. 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 have JavaScript enabled to experience the new Autoblog. 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 sells ATG self-driving business to Aurora at $4 billion. READ: Apple co-founder’s crypto gains over 1,300% within a few days after launch The company’s self-driving efforts have been marred by setbacks and controversy. (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. Please follow the instructions below to enable JavaScript in your browser. 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. Dive Insight: Uber's ATG arm has seen a difficult few years of enduring several controversies. “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.”. AFP via Getty Images. All rights reserved. Uber Technologies is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies … This page is for personal, non-commercial use. The exact text will differ depending on the actual application you have running. As rumored earlier, Uber UBER has sold their ATG self-driving unit … "This essentially advances our path to profitability," he said. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Thanks for that. An Uber ATG car, now to be a unit of the combined Aurora. 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. At Uber ATG, we are dedicated to making every mile we drive on the track and on public roads count. © 2021 Verizon Media. ‎1. Eric Volkman (TMFVolkman) Dec 7, 2020 at … 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. Uber is also working on building out its freight logistics platform but is not operating its own trucks at present. There could be more belt-tightening in Uber’s future as it attempts to find a path to profitability. “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. 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. Uber has put Advanced Technologies Group, its autonomous driving division, on the chopping block, reports TechCrunch. Uber selling self-driving unit to Silicon Valley start-up Aurora Uber ’s self-driving unit, Advanced Technologies Group (ATG), is being acquired by … Uber sells ATG self-driving business to Aurora at $4 billion. 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 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. ©2021 Verizon Media. In the near term, the startup will put ATG’s expertise to use on a self-driving truck it’s working on. 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. In 2018, one of Uber’s test vehicles struck and killed a pedestrian in Arizona. Khosrowshahi, who will take a seat on Aurora's board, said Uber's profitability was not the leading factor in the deal. A drop down menu will appear. News, Reviews, Photos, Videos delivered straight to your in-box. 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