Uber To Sell Off Self Driving Unit For 26% Take Of Aurora Innovation

Uber will sell its self-driving unit to Aurora Innovation in a deal that stands to benefit both the autonomous vehicle startup and the ride-hailing giant.

As part of the deal, Uber will hand over its equity in its Advanced Technology Group (ATG) and invest $400 million into Aurora Innovation, giving it a 26 per cent stake in the company. Prior to this deal, Uber had held an 86.2 per cent stake in Uber ATG with the remaining stake being owned by Uber ATG investors.