Uber is reportedly in talks to sell its autonomous vehicle division to its competitor, Aurora Innovation, as first reported by TechCrunch.
It’s worth noting that eighteen months ago, the division was valued at $7.25 billion USD (about $9.5 billion CAD), and now it may be sold.
Aurora Innovation was founded by three veterans of the autonomous vehicle industry who worked at Google, Tesla and Uber. The discussions about the sale reportedly started in October, but the terms of the deal are unknown.
The sale would mark the end of a troubling road for Uber. Last year, the company avoided criminal charges in the death of a woman in Arizona, which was the first death involving an self-driving car. Uber was then also involved in a trade secret lawsuit with Waymo, which is owned by Google’s parent company Alphabet.
Further, in the company’s most recent earnings report, the division saw a net loss of $303 million USD (about $398 million CAD).
The two companies have yet to acknowledge the potential sale and have declined to comment publicly about the matter.
Source: TechCrunch
