Uber sells autonomous driving unit ATG to Aurora at $4b

Uber sells autonomous driving unit ATG to Aurora at $4b

REUTERS/Luisa Gonzalez

Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to selfdriving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve profitability.

The equity deal valued the ATG at $4 billion, according to people familiar with the matter. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year.

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