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To overcome the crisis, Uber sold its autonomous vehicle unit for $ 4 billion

15 minutes. The American multinational Uber announced on Monday the sale of its unit of autonomous vehicles (which circulate without a driver) to startup Aurora. The specialized media estimated the operation at around 4,000 million dollars.

In an entry on its official blog, Aurora Innovation, based in Palo Alto (California) confirmed the operation. It also indicated that as part of the decision, Uber will invest 400 million dollars in cash in the company, with which it will control 26% of the shares.

The sale of the autonomous vehicle unit, known as Advanced Technologies Group (ATG), is part of the strategy advanced by Uber CEO Dara Khosrowshahi of restructure the carpool firm. With it, he wants the company to come out of losses and start generating profits next year.

Under the agreement, Khosrowshahi will also serve on Aurora’s board of directors, founded by seasoned driverless vehicle engineer Chris Urmson.

Autonomous vehicles

“Few technologies hold as promising for improving people’s lives with safe, accessible and environmentally positive transportation as autonomous vehicles. For the past 5 years, our great ATG team has been at the forefront of this company“So Khosrowshahi noted when announcing the operation.

“By joining forces with Aurora, ATG is on the go to achieve those goals even faster. I am looking forward to starting working with Chris (Urmson) and bringing Aurora’s (automatic) driver to the Uber network in the years to come, “he concluded.

At the beginning of November Uber announced losses of $ 5.799 million between January and September 2020, 22% less than the figure registered in the same period of 2019, when it lost 7,410 million.

The San Francisco company was severely affected this year by the COVID-19 pandemic and the consequent reduction in mobility, which caused its revenues to fall from 10,078 million in the first 9 months of 2019, to 8,913 million today.

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