Uber sells off its self-driving car research division


SAN RAMON, Calif. (WLNS) – Ride-sharing giant Uber is selling off its self-driving vehicle development division in an effort to slim down during the COVID-19 pandemic.

Autonomous vehicle startup Aurora is buying Uber’s Advanced Technologies Group as part of a stock transaction, acquiring the employees and technology in that division. Uber is also investing $400m in the company, and Uber CEO Dara Khosrowshahi will join Aurora’s board of directors.

According to the Associated Press, Aurora will be worth a total of $10b after the transaction, and Uber will have a 26% stake in the company.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

StormTracker 6 Radar