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Uber in talks to sell autonomous vehicle business to Aurora: report - Business Insider

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Uber is reportedly in talks to sell its self-driving vehicle division to a startup run by former Uber, Tesla, and Google executives and backed by Amazon

Uber is looking to get rid of its self-driving vehicle division, Advanced Technologies Group , and AV startup Aurora Innovation is a likely candidate to acquire it,Sources told TechCrunch that Uber "has been shopping" ATG to multiple potential buyers including some automakers, but that talks with Aurora, which began in October, are far along.

According to TechCrunch, ATG was facing a possible "down round," where investors were considering dropping the division's valuation from its previousUber launched ATG five years ago, and in its short life, the division has been plagued by multiple scandals and setbacks, bleeding money along the way — Uber reported $303 million in net losses for "ATG and other technologies" in its third quarter.

 

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