Uber In Talks To Sell Its ATG Self-Driving Unit To Aurora

Uber Technologies Inc is in talks to sell its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, a source familiar with the matter told Reuters. The talks are still ongoing and there is no certainty a deal could be reached, the source said, adding that Uber is also considering taking stake in the new company if Aurora takes over ATG.

Uber's ATG, which works to develop autonomous driving technology, counts Toyota Motor Corp and SoftBank Group Corp among its investors. Earlier last year, the unit had raised $1 billion (758 million pounds) from a consortium of investors including SoftBank, that valued it at $7.25 billion.

Uber has been seeking options for its autonomous vehicle divisions, a heavy cash burn machine, including seeking more outside investment, as Chief Executive Officer Dara Khosrowshahi refocused on core businesses including ride-hailing and food delivery since the pandemic hit.