• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Spotlight

Uber sells self-driving unit UberATG to Aurora in $4 billion worth deal

William Ukpe by William Ukpe
December 8, 2020
in Spotlight, Tech News
Uber, Moove

Dara Khosrowshahi, CEO Uber

Share on FacebookShare on TwitterShare on Linkedin

Ride-hailing giant, Uber, has announced the sale of its self-driving unit, Uber Advanced Technologies Group (ATG), to another self-driving company called Aurora at $4billion.

This was disclosed in an announcement by Reuters on Monday evening.

READ: Apple co-founder’s crypto gains over 1,300% within a few days after launch

RelatedStories

Lagos Assembly vows to defend Speaker Meranda amid Obasa’s insistence on Speakership 

Lagos Assembly orders Uber, Bolt, others to submit agreements, audit driver payments 

June 19, 2025
Lagos Assembly summons Uber, Bolt, Indrive, Rida, LagRide over labour rights violations 

Lagos Assembly summons Uber, Bolt, Indrive, Rida, LagRide over labour rights violations 

June 17, 2025
  • Uber says the deal will advance the company’s path towards profitability. The initial equity deal of the sale valued ATG at $4 billion.
  • However, Uber announced a $400 million investment for 26% ownership of the platform, which would value Aurora at $10 billion.

READ: Slack gains 22% on Salesforce buyout offer

What they are saying

Uber’s Chief Executive Officer, Dara Khosrowshahi, said: “The sale of the unit to Aurora will boost Uber’s profitability goals by the end of the year. This essentially advances our path to profitability.”

He added that seeking profitability was not the major driver of the deal.

Uber’s CEO will also have a board seat at Aurora. The CEO disclosed that Uber has focused more on its core business due to the effects of the pandemic.

READ: Uber expands food delivery business in a $2.65 billion acquisition 

He added that Uber will not work with Aurora exclusively on self-driving options, but says the relationship between both companies is special.

“If the technology becomes real, I think our investment will be money good and then some,” he added.

TechCrunch also added that Aurora will not pay cash for the deal. “Uber together with existing ATG investors and the ATG employees who continue their employment with Aurora are expected to collectively hold about 40% interest in Aurora on a fully diluted basis” they revealed.

READ: How to access FG’s new grant for Bus, Uber, Bolt drivers, cart pushers

READ: America’s biggest food delivery app, DoorDash seeks for IPO approval

 What you should know about Uber

  • In 2019, Uber ATG raised $1 billion from Toyota Motor, Japanese automotive components manufacturer, Denso Corp., and the SoftBank Vision Fund, which valued ATG at $7.25 billion last year.
  • Aurora develops a wide range of self-driving options from trucks to cars and is working with Uber to launch self-driving vehicles on Uber’s food delivery network.

READ: Hyundai to invest $87 billion into producing 44 new electric vehicles 


Follow us for Breaking News and Market Intelligence.
Tags: AuroraBusiness NewsUber Advanced Technologies GroupUber Nigeria
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

Lagos Assembly vows to defend Speaker Meranda amid Obasa’s insistence on Speakership 
Business News

Lagos Assembly orders Uber, Bolt, others to submit agreements, audit driver payments 

June 19, 2025
Lagos Assembly summons Uber, Bolt, Indrive, Rida, LagRide over labour rights violations 
Sectors

Lagos Assembly summons Uber, Bolt, Indrive, Rida, LagRide over labour rights violations 

June 17, 2025
Fuel price hike: Uber drivers ask for more as platform increases fares by 13% 
Op-Eds

Why booking a ride in Nigeria now means hopping into a jalopy 

May 11, 2025
App-based drivers threaten to dump Uber, Bolt, Indrive over poor working conditions in Lagos
Business News

App-based drivers threaten to dump Uber, Bolt, Indrive over poor working conditions in Lagos

May 2, 2025
US government sues Uber over ‘deceptive billing and cancellation’ tied to subscription service 
Sectors

US government sues Uber over ‘deceptive billing and cancellation’ tied to subscription service 

April 22, 2025
Fuel scarcity: Bolt riders groan as prices rise by over 100%
Sectors

Bolt, Uber drivers to protest, shut down operations in Lagos on May 1 over poor working conditions

April 22, 2025
Next Post
MSME, world bank, FG seeking FDI to develop Special Economic Zones - Trade Minister, FG clamps down on filling stations, others for faulty measuring and weighing equipment, AfCFTA: Nigeria securing approval to ratify agreement- Trade Minister, FG meets group to access AfCFTA's $650 billion market, UNIDO’s $60m investment programme to boost Nigeria’s industrialisation - FG, FG to strengthen economic ties with Turkey, FG moves to facilitate tax incentives for SMEs, Made-in-Nigeria vehicles gulp N364 billion from FG

World Bank to partner FG in developing a Sector Strategic Plan for 2020-2030

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Nigeria’s top 10 stockbrokers by value of transactions in second quarter 2025 
  • Champion Breweries shares up 246.46% — How other beer companies are performing in 2025 
  • Rwanda reaffirms commitment to strengthening trade, aviation, and ICT ties with Nigeria 

Follow us on social media:

Recent News

Nigeria’s top 10 stockbrokers by value of transactions in second quarter 2025 

July 5, 2025
Champion Breweries Plc

Champion Breweries shares up 246.46% — How other beer companies are performing in 2025 

July 5, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics