The exact text will differ depending on the actual application you have running. READ: Apple co-founder’s crypto gains over 1,300% within a few days after launch 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. Uber has put Advanced Technologies Group, its autonomous driving division, on the chopping block, reports TechCrunch. 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. After being shopped around, ATG’s top suitor is also a key competitor: Aurora Innovation. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. Uber selling self-driving unit to Silicon Valley start-up Aurora Uber ’s self-driving unit, Advanced Technologies Group (ATG), is being acquired by … 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. Once worth over $7B, this sale would come almost three years after Uber's autonomous driving ambitions were … © 2021 Verizon Media. AD. 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. 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’s not surprising Uber eventually came to the decision to stop working on autonomous vehicles. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the … Eric Volkman (TMFVolkman) Dec 7, 2020 at … Ride-hailing giant, Uber, has announced the sale of its self-driving unit, Uber Advanced Technologies Group (ATG), to another self-driving company called Aurora at $4billion. You must have JavaScript enabled to experience the new Autoblog. This was disclosed in an announcement by Reuters on Monday evening. 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. In the near term, the startup will put ATG’s expertise to use on a self-driving truck it’s working on. All rights reserved. "This essentially advances our path to profitability," he said. Dara Khosrowshahi is also joining the startup's board of directors. At Uber ATG, we are dedicated to making every mile we drive on the track and on public roads count. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. 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 is currently in discussions to sell its Advanced Technologies Group (ATG) self-driving vehicles unit to Aurora, TechCrunch reported. 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. You still haven't turned off your adblocker or allowed our site. The sale could be confirmed within the next few weeks. 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. 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. A drop down menu will appear. Khosrowshahi, who will take a seat on Aurora's board, said Uber's profitability was not the leading factor in the deal. Dive Insight: Uber's ATG arm has seen a difficult few years of enduring several controversies. 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. Come later, with Uber licensing the tech from Aurora find a to... 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