Uber didn’t sell its self-driving dream — it’s just outsourcing the hard work
Ride-hailing company Uber is selling its self-driving division, Advanced Technologies Group (ATG), in a move it says will accelerate its path to profitability. While no price has been revealed, the deal values ATG at around $4 billion. That’s nearly 50% down from its April 2019 valuation of $7.25 billion, CNBC reports. Self-driving startup Aurora, headed by former Waymo engineer Chris Urmson, is the buyer. While the sale might look like Uber is giving up on its futuristic vision, the move is probably more astute than it appears. Let’s first dive into what’s happening now before going into why the sale…
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