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. You must have JavaScript enabled to experience the new Autoblog. Check your in-box to get started. 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. (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. 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. 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. 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. This was disclosed in an announcement by Reuters on Monday evening. A drop down menu will appear. Uber is also working on building out its freight logistics platform but is not operating its own trucks at present. It only takes a few seconds. Uber selling self-driving unit to Silicon Valley start-up Aurora Uber ’s self-driving unit, Advanced Technologies Group (ATG), is being acquired by … “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. Effectively, Uber is paying Aurora to take the division off its hands. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. 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. “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 sells ATG self-driving business to Aurora at $4 billion. 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. You still haven't turned off your adblocker or allowed our site. Uber has put Advanced Technologies Group, its autonomous driving division, on the chopping block, reports TechCrunch. © 2021 Verizon Media. READ: Apple co-founder’s crypto gains over 1,300% within a few days after launch 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. All rights reserved. Once worth over $7B, this sale would come almost three years after Uber's autonomous driving ambitions were … 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. Eric Volkman (TMFVolkman) Dec 7, 2020 at … The equity deal valued the ATG at $4 billion, according to sources familiar with the matter. Khosrowshahi said Uber would continue to install self-driving technology on a variety of vehicle makes, but called the relationship with Aurora "special.". As part of the deal, Uber will invest $400 million in Aurora, with CEO Dara Khosrowshahi joining the startup’s board of directors. News, Reviews, Photos, Videos delivered straight to your in-box. Uber's partnership with Aurora is not exclusive. 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."." Uber Technologies is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies … AD Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. The exact text will differ depending on the actual application you have running. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … As expected, Uber is selling off its self-driving unit. Dive Insight: Uber's ATG arm has seen a difficult few years of enduring several controversies. It’s not surprising Uber eventually came to the decision to stop working on autonomous vehicles. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. 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. It was last valued at over $3 billion in September 2019, according to PitchBook data. ‎1. 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. 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. Uber will hold about 26% ownership interest in Aurora on a fully diluted basis, the company said in a filing. There could be more belt-tightening in Uber’s future as it attempts to find a path to profitability. 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. You may order presentation ready copies to distribute to your colleagues, customers, or clients, by visiting http://www.autobloglicensing.com. 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. Uber’s victory in California could have ramifications in other states as it seeks ways to lower its labor costs. And free is good, right? As rumored earlier, Uber UBER has sold their ATG self-driving unit … At ATG, we pride ourselves on the amazing team we’ve built. 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. Dara Khosrowshahi is also joining the startup's board of directors. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. "If the technology becomes real, I think our investment will be money good and then some," he said. On Monday, the company confirmed the sale of its Advanced Technologies Group (ATG) to … 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 sale could be confirmed within the next few weeks. Uber sells ATG self-driving business to Aurora at $4 billion. An Uber ATG car, now to be a unit of the combined Aurora. The side ballot successfully overturned the state’s AB5 law, which had classified gig economy workers as employees. In 2018, one of Uber’s test vehicles struck and killed a pedestrian in Arizona. Uber Sells ATG Self-Driving Unit It wasn't disclosed how much the buyer, Aurora, will pay for the business. His next move, according to TechCrunch, could be a sale of Ubers autonomous-vehicle unit, the Advanced Technologies Group (ATG). Uber is currently in discussions to sell its Advanced Technologies Group (ATG) self-driving vehicles unit to Aurora, TechCrunch reported. As expected, Uber is selling off its self-driving unit. 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. AFP via Getty Images. The likeliest buyer is the startup Aurora Innovation, which is backed by Amazon and helmed by Google’s former self-driving chief, Chris Urmson. After being shopped around, ATG’s top suitor is also a key competitor: Aurora Innovation. With the acquisition of Uber’s Advanced Technologies Group (ATG) – including the team and technology, but not ATG chief Eric Meyhofer – … (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. Uber and Aurora will enter into a collaboration agreement to launch self-driving vehicles on the Uber ride sharing network. 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. Khosrowshahi, who will take a seat on Aurora's board, said Uber's profitability was not the leading factor in the deal. Robot taxis will come later, with Uber licensing the tech from Aurora. If you'd be so kind as to allow our site, we promise to keep bringing you great content. In the near term, the startup will put ATG’s expertise to use on a self-driving truck it’s working on. And thanks for reading Autoblog. (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … It has also been the subject of lawsuits, with rival Waymo alleging some of its former … 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. 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. You must be logged in to perform that action. Thanks for that. Ads can be annoying. 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. Please follow the instructions below to enable JavaScript in your browser. The company’s self-driving efforts have been marred by setbacks and controversy. 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 … 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. AD. 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. 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. Click on the icon for your Adblocker in your browser. 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. Thanks for subscribing. 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. 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. 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. 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. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … The sale will accelerate Uber's goal to achieve profitability on an adjusted basis by the end of 2021, Chief Executive Officer … This page is for personal, non-commercial use. [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 … At Uber ATG, we are dedicated to making every mile we drive on the track and on public roads count. "This essentially advances our path to profitability," he said. All rights reserved. ©2021 Verizon Media. The 4-1-1: Aurora was co-founded by Chris Urmson, a former lead engineer for Google’s own self-driving project. 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