Uber is “selling” its self-driving car development unit to a rival autonomous vehicle developer, Aurora Innovation, and shaving off 15% of its total annual cash burn in the process. The move, in which Uber will invest $400 million in Aurora for a minority stake, mirrors a deal Uber struck in offloading its failing scooter-rental business to an existing rival in that field, a startup called Lime,...
Uber/Lyft
Autonomous Vehicles
Uber Offloads Self-Driving Car Unit to Aurora and Invests $400 Million in It
Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
Exclusive
Startups
COVID-19
After Tough Year, SPACs Tempt Bird, Lime

Dogged by questions of financial viability and then a pandemic that crippled demand for scooter rentals, Bird and Lime are taking steps to repair the damage. Bird is finalizing a deal to raise more than $100 million in convertible debt, led by existing investors Sequoia Capital and Valor Equity Partners, people familiar with the matter said. The financing comes after the scooter operator had...
Latest Briefs
AT&T Books $15.5 Billion Charge on DirecTV
ByteDance Lays Off Staff in India After Government Extends Ban
China Central Bank Chief: Ant IPO Could Resume Once Problems Solved
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.


Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.

Recent Popular Stories