Uber abandoned its efforts to develop its own driving car

Uber has abandoned efforts to develop its own self-driving car and will instead start working for the minority part in Arona, a driverless vehicle start-up backed by Amazon and Sequoia, down a significantly marked price.

The deal marks the end of one of the most ambitious efforts to develop a fully autonomous vehicle, with Uber jumping on the bandwagon to acquire a fleet of self-propelled taxis in rubber.

However, a woman was killed in a car accident in Tempe, Arizona, in 2018, and her efforts were taken aback, and Uber investors pressured the company to focus on making its core car booking business profitable.

Uber will relocate its 1,200-employee self-driving unit to Aurora, which currently has 600 employees, and they will invest 400 400 million. Aurora was valued at 2.5 2.5 billion in 2019 after a 30 530 million investment led by Sequoia; It said Uber would pay 10 10 billion to set the deal.

Uber had a significant cash outflow for its self-driving business, but as of April 2019, Toyota and Softbank took a minority position on the unit before the group’s initial public offering, when it was valued at 7. 7.25 billion.

Together, Uber and its partners will grow with 40 percent Aurora. Just 4 4 billion in Aurora’s new মাত্র 10 billion valuation, which represents a significant mark of the unit’s April 2019 price tag. Uber itself will own 226 percent of Aurora and Uber CEO Dara Khasroshahi will take a seat on an Aurora board.

Eric Mehofer, head of the self-driving unit, will not join Aurora and leave Uber.

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Aurora – founded by an executive who played a key role in the search for self-driving programs on Google, Tesla and Uber – is known for its powerful financial grammar. But as the strategy of working closely with top manufacturers has waned, early partners Volkswagen, Hyundai and Fiat Chrysler are all leaning towards technology support from Aurora rivals.

The Uber deal means Aurora’s driverless technology could eventually deliver to the world’s largest ride-healing fleet. Toyota’s involvement with Uber’s self-driving project could also give Aurora access to a key carmaker as a partner.

“It’s a little coup and we’re incredibly excited about it,” Aurora chief executive Chris Urmson told the Financial Times.

In 2016, after launching the Travis Clinic division, Uber co-founders called the self-driving challenge “essentially existent for us.” The fear was that Google could reduce its entire business with a cheap, safe ride-hailing business.

Uber acted fast and in 2016 invested 6 80,680 million in driverless start-up Auto. It is estimated that by 2019 it will have 75,000 autonomous vehicles.

However, its initial hopes were dashed and the unit became a public nightmare after the Tempe accident. This year, the self-driving unit and “other technology programs” have been reduced by more than $ 300m on an Ebitda basis.

In 2018 the company agreed to pay ম 245 million in its stock to Google Parent Alphabet self-propelled arm Wemo to settle a business privacy dispute out of court.

During the trial, Mr. Callahan defended Uber against allegations that he conspired with Anthony Lewandowski, a former Google employee, to obtain confidential documents about Google’s self-driving program.

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Uber has recently gone on to sell or close non-core businesses and its flying car project could go next to selling Elevate. In May, Uber offloaded its jump bike section at length as part of a $ 170m investment in the scooter company.

Mr Khasroshahi said in a statement that the deal would put Uber’s advanced technology group “at the pole position” to promise driverless vehicles.

“Few technologies have the promise to improve people’s lives, including safe, accessible and environmentally friendly transportation like self-driving vehicles,” he said.

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