Why Uber failed in the autonomous car

Posted on 8 Dec. 2020 at 6:02Updated 8 Dec. 2020 at 11:01

After five years of efforts and more than $ 2.5 billion swallowed up, Uber is giving up on developing its own autonomous car in order to accelerate its return to profitability. On Monday, the number one in chauffeur-driven transport vehicles (VTC) announced to resell Advanced Technologies Group (ATG), its division dedicated to robotaxis, to Aurora, an American start-up created in 2017 by several veterans of Google, Tesla and Uber .

In exchange for the transfer of its technologies and the majority of its team, Uber will hold 26% of the startup’s capital. Some investors and ATG employees will recover an additional 14%, raising the total to 40%, according to the Financial Times. Uber, which plans to roll out Aurora’s product, will also invest $ 400 million in the start-up. This will recover at least half of ATG’s 1,200 employees, doubling its workforce, and Dara Khosrowshahi, CEO of Uber, will sit on the board.

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