Uber sells its self-driving car business to Aurora for $4 billion


By Krystal Hu, Tina Bellon and Jane Lanhee Lee (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 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.....

This article is no longer available in our repository.

There could be multiple reasons for this.