It’s a fork for Uber’s self-driving car business. Monday, startannounced that it would acquire the Advanced Technologies Group from the transportation company, which has spent the past few years developing autonomous vehicle technology. The deal will bring Aurora’s approximate valuation to $ 10 billion.
“With the addition of ATG, Aurora will have an incredibly strong team and technology, a clear path to multiple markets and the resources to deliver,” said Chris Urmson, CEO of Aurora, of of the acquisition. “Simply put, Aurora will be the company best positioned to provide the stand-alone products needed to make transportation and logistics safer, more accessible and less expensive.
Aurora praised what ATG has accomplished so far under Uber and highlighted the advancements in hardware, software and security. The company rolled out an in-depth safety case framework two years ago to incorporate safety into every mile a prototype self-driving car travels. The division was not without controversies, however: athe same year.
Although Uber is leaving the industry, it will still retain a minor connection to its now old division. The ridesharing giant has said it will invest $ 400 million in Aurora to partner with the company and bring autonomous technologies to life. Ideally, Aurora gets funding and plenty of bright minds, while Uber benefits from future technologies when they’re ready without direct oversight. Aurora still plans to tackle commercial trucking with its technology first, but the Uber partnership could push the company to take advantage of road transport when the time comes.
Uber CEO Dara Khosrowshahi said he looks forward to working alongside Aurora in the new partnership. Khosrowshahi will join the board of the autonomous enterprise.
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