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Aurora acquires Uber’s self-driving Unit, Raises $400 Million from Uber

8Dec By AnkitaNo Comments

ACQUISITION

Aurora acquires Uber’s self-driving Unit, Raises $400 Million from Uber

Aurora acquires Uber’s self-driving unit, Advanced Technologies Group (ATG) to accelerate and deliver it first product safely & quickly. Founded in 2017, Aurora is working on self-driving technology. The company is building the Aurora Driver, a platform that brings together software, hardware and data services to operate passenger vehicles, light commercial vehicles, and heavy-duty trucks across a range of applications. In addition to acquiring ATG, the company announced a strategic partnership with Uber that connects aurora technology to Uber's ride-hailing platform and an investment of $400 million in Aurora from Uber. After this deal Uber CEO Dara Khosrowshahi will join Aurora Board. “Few technologies hold as much promise to improve people’s lives with safe, accessible...

Amazon agrees to buy self-driving startup Zoox for over $1 billion

26Jun By reutersNo Comments

Automobile

Amazon agrees to buy self-driving startup Zoox for over $1 billion

Seattle, 26th June, 2020: Amazon has agreed to pay over $1 billion to buy self-driving startup Zoox Inc, the Information reported on Thursday, citing sources, in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology. The report did not mention the exact purchase price and added Amazon is unlikely to disclose it when the deal is announced, likely to be on Friday. A majority of Zoox investors are getting their money back, with some making a positive return, the report added. Lux Capital, DFJ and Atlassian co-founder Michael Cannon-Brooks are some of the investors. Amazon and Zoox did not immediately respond to a Reuters request for comment. The Wall Street Journal reported last month that the companies were in advanced talks and the deal could va...

Tata Owned Jaguar Unit Invests $25 Million in Lyft

13Jun By AdityaNo Comments

FUNDING

Tata Owned Jaguar Unit Invests $25 Million in Lyft

Tata Motors-owned Jaguar Land Rover (JLR) has invested USD 25 million (over Rs 160 crore) in Lyft, the fastest-growing rideshare company in the US. The investment by InMotion Ventures, a part of JLR, will support Lyfts expansion and technology plans, the UK-based luxury carmaker said in a statement. The initiative will also provide InMotion Ventures with the opportunity to develop and test its mobility services, including autonomous vehicles, and to supply Lyft drivers with a fleet of Jaguar and Land Rover vehicles, it added. "This is a strategic investment for both parties as we focus on innovating new mobility solutions for our customers. Collaborating with an expanding technology business like Lyft is going to help us both accelerate our ambitions," JLR Executive Director of Co...

BMW, Baidu Joint Project on Self-Driving Cars Breaks Down

19Nov By NitishNo Comments

News

BMW, Baidu Joint Project on Self-Driving Cars Breaks Down

German automaker BMW and Chinese internet giant Baidu will end their joint research on self-driving cars, executives for the two firms said on Friday, with Baidu now searching for new global research partners. Wang Jing, the head of autonomous car development at Baidu, told Reuters the company was now using cars from Ford's Lincoln in its U.S. testing, declining to elaborate. "I'm open for any partners, actually I'm talking to many," Wang said, speaking on the sidelines of China's third World Internet Conference in the eastern Chinese city of Wuzhen. Tech and automotive leaders contend that cars of the future will be capable of completely driving themselves, revolutionizing the transportation industry, with virtually all carmakers as well as companies such as Alphabet's Google and...

Self Driving Won’t Work in India Because Nobody Obeys Driving Rules: RC Bhargava

6Nov By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Self Driving Won’t Work in India Because Nobody Obeys Driving Rules: RC Bhargava

At a time when the automotive world is bullish on self driving cars, Maruti Suzuki Chairman R C Bhargava says such autonomous vehicles will not work in India as "nobody obeys any of the driving rules". "I would love to see people try and put that technology to use in the Indian driving conditions," Bhargava said. At an interaction here late last evening, he was asked about his views on self driving cars and how were they likely to impact the traditional automobile industry. "I think no technology will work here when nobody obeys any of the driving rules, no nobody obeys any of the systems which are there. How will you devise a technology that will predict customer behaviour, nobody can predict customer behaviour?" he said. Asked about the impact of taxi aggregators like...