You must be logged in to perform that action. 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. 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. Dive Insight: Uber's ATG arm has seen a difficult few years of enduring several controversies. “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. All rights reserved. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. At ATG, we pride ourselves on the amazing team we’ve built. Uber Sells ATG Self-Driving Unit It wasn't disclosed how much the buyer, Aurora, will pay for the business. Uber will hold about 26% ownership interest in Aurora on a fully diluted basis, the company said in a filing. News, Reviews, Photos, Videos delivered straight to your in-box. Eric Volkman (TMFVolkman) Dec 7, 2020 at … 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. Thanks for that. Last year Toyota, Softbank and Denso teamed up to invest $1 billion in Uber ATG in a deal that valued the self-driving focused spinoff at $7.25 billion. As expected, Uber is selling off its self-driving unit. 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. 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. Uber and Aurora will enter into a collaboration agreement to launch self-driving vehicles on the Uber ride sharing network. Uber’s victory in California could have ramifications in other states as it seeks ways to lower its labor costs. All rights reserved. There could be more belt-tightening in Uber’s future as it attempts to find a path to profitability. AD The equity deal valued the ATG at $4 billion, according to people familiar with the matter. At Uber ATG, we are dedicated to making every mile we drive on the track and on public roads count. 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 has put Advanced Technologies Group, its autonomous driving division, on the chopping block, reports TechCrunch. [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 … As part of the deal, Uber will invest $400 million in Aurora, with CEO Dara Khosrowshahi joining the startup’s board of directors. (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. 2021 Jeep Grand Cherokee L revealed with three rows, new platform, 2021 Jeep Grand Cherokee L vs Big Three-Row Crossovers | Spec comparison, New spy photos reveal next-gen Range Rover interior, Mazda's upcoming inline-six, rear-wheel-drive platform detailed by suppliers, Cars we're most looking forward to driving in 2021, Mickey Thompson's daily driver '63 Corvette Z06 could sell for up to $500,000. The sale will accelerate Uber's goal to achieve profitability on an adjusted basis by the end of 2021, Chief Executive Officer … After being shopped around, ATG’s top suitor is also a key competitor: Aurora Innovation. You may order presentation ready copies to distribute to your colleagues, customers, or clients, by visiting http://www.autobloglicensing.com. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … The likeliest buyer is the startup Aurora Innovation, which is backed by Amazon and helmed by Google’s former self-driving chief, Chris Urmson. 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. A drop down menu will appear. "If the technology becomes real, I think our investment will be money good and then some," he said. The sale to Aurora puts Uber’s ATG division in the hands of a company that has prided itself on a slower approach to autonomy with an emphasis on safety. Once worth over $7B, this sale would come almost three years after Uber's autonomous driving ambitions were … It has also been the subject of lawsuits, with rival Waymo alleging some of its former … The equity deal valued the ATG at $4 billion, according to sources familiar with the matter. With the acquisition of Uber’s Advanced Technologies Group (ATG) – including the team and technology, but not ATG chief Eric Meyhofer – … Uber sells ATG self-driving business to Aurora at $4 billion. © 2021 Verizon Media. It’s not surprising Uber eventually came to the decision to stop working on autonomous vehicles. READ: Apple co-founder’s crypto gains over 1,300% within a few days after launch "This essentially advances our path to profitability," he said. Uber selling self-driving unit to Silicon Valley start-up Aurora Uber ’s self-driving unit, Advanced Technologies Group (ATG), is being acquired by … Ads can be annoying. 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. 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. 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."." In the near term, the startup will put ATG’s expertise to use on a self-driving truck it’s working on. 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. Effectively, Uber is paying Aurora to take the division off its hands. As rumored earlier, Uber UBER has sold their ATG self-driving unit … Khosrowshahi said Uber would continue to install self-driving technology on a variety of vehicle makes, but called the relationship with Aurora "special.". 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. 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. The company’s self-driving efforts have been marred by setbacks and controversy. Please follow the instructions below to enable JavaScript in your browser. Uber sells ATG self-driving business to Aurora at $4 billion. It was last valued at over $3 billion in September 2019, according to PitchBook data. 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. If you'd be so kind as to allow our site, we promise to keep bringing you great content. And thanks for reading Autoblog. ©2021 Verizon Media. 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. 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. We get it. We’re looking for world-class researchers, engineers, and product specialists who prioritize safety and want to join our mission to bring safe, reliable self-driving transportation to everyone, everywhere. Uber's partnership with Aurora is not exclusive. His next move, according to TechCrunch, could be a sale of Ubers autonomous-vehicle unit, the Advanced Technologies Group (ATG). 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. (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … The side ballot successfully overturned the state’s AB5 law, which had classified gig economy workers as employees. 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. 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 … The exact text will differ depending on the actual application you have running. You still haven't turned off your adblocker or allowed our site. You must have JavaScript enabled to experience the new Autoblog. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. 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. Click on the icon for your Adblocker in your browser. 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. NVIDIA hints at RTX 30 laptop graphics launch on January 12th, Early Solar System meteorites might explain how Earth got water, Ford and Nissan will cut vehicle production due to a chip shortage, Hyundai and Apple will reportedly sign an electric car deal by March, Lenovo's ThinkReality A3 Smart Glasses can show up to five virtual displays, Watch the 'Ratatouille' TikTok musical encore at 8PM Eastern, ICYMI: We take a listen to Apple's AirPods Max. Thanks for subscribing. In 2018, one of Uber’s test vehicles struck and killed a pedestrian in Arizona. (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. “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.”. Uber is currently in discussions to sell its Advanced Technologies Group (ATG) self-driving vehicles unit to Aurora, TechCrunch reported. 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 is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies … Uber is also working on building out its freight logistics platform but is not operating its own trucks at present. 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. 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. On Monday, the company confirmed the sale of its Advanced Technologies Group (ATG) to … Check your in-box to get started. This page is for personal, non-commercial use. 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. The 4-1-1: Aurora was co-founded by Chris Urmson, a former lead engineer for Google’s own self-driving project. AD. An Uber ATG car, now to be a unit of the combined Aurora. ‎1. This was disclosed in an announcement by Reuters on Monday evening. 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. AFP via Getty Images. It only takes a few seconds. Khosrowshahi, who will take a seat on Aurora's board, said Uber's profitability was not the leading factor in the deal. 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. As expected, Uber is selling off its self-driving unit. 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. The sale could be confirmed within the next few weeks. 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