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Uber Sells its Autonomous Driving Unit to Aurora for $4 Billion

Uber Sells its Autonomous Driving Unit to Aurora for $4 Billion

Ride-hailing giant Uber Technologies Inc. is abandoning its internal efforts to develop self-driving vehicles and selling off its Advanced Technologies Group (ATG) division and assets to California autonomous driving startup Aurora for $4 billion. As part of the deal, Uber will transfer its entire 1,200-employee ATG unit to Aurora. Uber will also invest $400 million in Aurora.

Eric Walz2020-12-07 18:40 PT

California Voters Approve Prop 22, Allowing Uber & Lyft Drivers to Remain as Independent Contractors

California Voters Approve Prop 22, Allowing Uber & Lyft Drivers to Remain as Independent Contractors

California ride-hailing providers Uber Technologies Inc. and Lyft Inc. will be able to keep their drivers as independent contractors in California as voters overwhelmingly approved Proposition 22, an amendment to the state’s Assembly Bill 5 (AB5) that passed last year. AB5 would otherwise have required that Uber and Lyft, as well as other app-based delivery companies, classify a majority of their drivers working over 40 hours each week on the platform as full-time employees in the state.

FutureCar Staff 2020-11-04 10:00 PT

Uber CEO Says the Company Might Suspend its California Operations if a Court’s Decision Forcing it Classify Drivers as Full-time Employees is Not Overturned

Uber CEO Says the Company Might Suspend its California Operations if a Court’s Decision Forcing it Classify Drivers as Full-time Employees is Not Overturned

Now that the ongoing pandemic has decimated Uber’s core ride-hailing business over the past few month’s and a California court has ordered Uber to reclassify most driver partners as full-time employees, Uber may temporarily suspending its ride-sharing service in the state. Uber CEO Dara Khosrowshahi said that Uber would likely shut down temporarily for several months if a court does not overturn its recent ruling.

Jeremy Carlton2020-08-12 10:45 PT

Uber Acquires Software Company Routematch in its Push to Support City Public Transit Services

Uber Acquires Software Company Routematch in its Push to Support City Public Transit Services

Ride-sharing company Uber is looking to extend its reach further into the public transit sector. The company announced today that it has acquired Routematch, a software provider that serves more than 500 transit agency partners in communities around the world.

FutureCar Staff 2020-07-16 11:50 PT

Uber is in Talks for a $500 Million Investment in its Uber Freight Unit

Uber is in Talks for a $500 Million Investment in its Uber Freight Unit

Ride-sharing company Uber Technologies Inc. is seeking an outside investment in its Uber Freight unit, Bloomberg has reported. San Francisco-based Uber held discussions to raise $500 million in a funding round that would give its freight business a standalone valuation of about $4 billion.

Derrick Smith2020-07-15 17:10 PT

Uber Launches a Grocery Delivery Service in South America & Canada, Will Soon Launch in the U.S.

Uber Launches a Grocery Delivery Service in South America & Canada, Will Soon Launch in the U.S.

In collaboration with Uber’s partner grocery delivery partner Cornershop, customers in select cities in Latin America and Canada can now order groceries through both the Uber and Uber Eats app. Uber announced that its grocery delivery service will soon be available in the U.S., starting with the cities of Miami, FL and Dallas, TX.

Derrick Smith2020-07-07 15:50 PT

Uber Plans to Sell the Software That Powers its Ride-Hailing Network to Cities, Launching a California Pilot Next Month

Uber Plans to Sell the Software That Powers its Ride-Hailing Network to Cities, Launching a California Pilot Next Month

Ride-hailing giant Uber Technologies Inc. is making its software available to public transit agencies in Marin County, California. Marin Transit and the Transportation Authority of Marin are paying Uber a flat monthly subscription fee for access to the software that powers Uber’s ride-hailing platform in a new transportation pilot launching July 1.

Eric Walz2020-06-17 10:45 PT

Uber is Leading a $170 Million Investment in Electric Scooter Sharing Startup Lime

Uber is Leading a $170 Million Investment in Electric Scooter Sharing Startup Lime

Ride hailing company Uber Technologies Inc. is leading a $170 million investment round in San Francisco-based electric scooter sharing startup Lime. As part of the investment, Lime has acquired Uber's JUMP’s e-bike business operations and will further expand its mobile app integration with Uber.

Eric Walz2020-05-07 14:45 PT

Uber Lays Off 3,700 Employees as it Struggles with a Sudden Loss of Revenue Due to the Coronavirus

Uber Lays Off 3,700 Employees as it Struggles with a Sudden Loss of Revenue Due to the Coronavirus

The economic fallout of the coronavirus pandemic continues to ripple throughout the transportation industry. Today, ride-hailing giant Uber Technologies Inc. announced the layoffs of nearly 4,000 employees as the company struggles with the sudden loss of revenue from its core ride-hailing business.

FutureCar Staff 2020-05-06 14:35 PT

Uber Shares Surge 37% After its CEO Says the Ride-Hailing Giant Has $10 Billion in Cash to Weather the Coronavirus Crisis

Uber Shares Surge 37% After its CEO Says the Ride-Hailing Giant Has $10 Billion in Cash to Weather the Coronavirus Crisis

Uber CEO Dara Khosrowshahi said the company has enough cash on hand to withstand the economic loss of the recent coronavirus outbreak.

Eric Walz2020-03-19 10:00 PT

Uber’s Self-Driving Cars Return to San Francisco

Uber’s Self-Driving Cars Return to San Francisco

Only two of Uber’s autonomous Volvo XC90 SUVs will be testing publicly and will only be tested during daylight hours.

Vineeth Joel Patel2020-03-15 06:00 PT

Uber is Bringing its Self-Driving Cars to Washington D.C., with Humans Behind the Wheel

Uber is Bringing its Self-Driving Cars to Washington D.C., with Humans Behind the Wheel

​Ride-hailing company Uber is still working on its goal to add self-driving cars to its ride-hailing network. The company announced on Thursday that its bringing its self-driving vehicles to Washington D.C. The nation’s capital will be the sixth major city where Uber is mapping and collecting data for its self-driving vehicles.

FutureCar Staff 2020-01-24 10:55 PT

Uber is Testing a New Feature in California Allowing Some Drivers to Set Their Own Fares

Uber is Testing a New Feature in California Allowing Some Drivers to Set Their Own Fares

Uber announced on Tuesday its testing a feature that allows some drivers picking up passengers from airports in Santa Barbara, Palm Springs and Sacramento to charge up to five times the fare set by the company, Uber said.

Eric Walz2020-01-21 10:55 PT

Uber Announces Partnership with Hyundai Motor Group on Urban Air Mobility

Uber Announces Partnership with Hyundai Motor Group on Urban Air Mobility

At CES this week in Las Vegas, Uber and Hyundai Motors Group announced a new partnership on a futuristic multi-passenger VTOL aircraft that in the near future may whisk Uber customers in the sky above congested cities, cutting some two hour commutes down to just 15 minutes. Hyundai will produce the VTOL aircraft, while Uber will provide aerial ride-sharing platform for customers to book them.

FutureCar Staff 2020-01-09 15:15 PT

Former Uber CEO and Co-Founder Travis Kalanick to Resign From its Board, Cutting All Ties to the Company

Former Uber CEO and Co-Founder Travis Kalanick to Resign From its Board, Cutting All Ties to the Company

Travis Kalanick, the man who changed how people get around as the co-founder and CEO of ride-hailing giant Uber, is cutting ties with the company he co-founded in 2009.

Eric Walz2019-12-24 09:00 PT

London Revokes Uber’s License for the Second Time Citing a ‘Pattern of Failure’ Over Rider Safety

London Revokes Uber’s License for the Second Time Citing a ‘Pattern of Failure’ Over Rider Safety

The regulator Transport for London (TfL), citing a “pattern of failure” with rider safety and security, has revoked the ride-hailing giant's license for the second time in under two years.

Eric Walz2019-11-25 10:45 PT

Uber & EVgo Sign MOU to Promote the Use of Electric Vehicles on Uber’s Platform

Uber & EVgo Sign MOU to Promote the Use of Electric Vehicles on Uber’s Platform

Ride-hailing giant Uber Technologies Inc and electric vehicle charging site operator EVgo have announced a new agreement to accelerate the electrification of ride-share vehicles across the U.S. Uber and EVgo will focus on supporting Uber’s driver-partners who currently drive electric vehicles with access to EVgo’s public fast charging network.

Eric Walz2019-09-26 10:30 PT

Uber Spreads its Autonomous Program to Dallas

Uber Spreads its Autonomous Program to Dallas

The Texas city joins Pittsburgh, Toronto, and San Francisco as locations where the ride-hailing company is testing its autonomous cars.

Vineeth Joel Patel2019-09-21 06:00 PT

Uber Sells $1.2 Billion in Junk Bonds to Help Fund its Acquisition of Dubai-based Careem

Uber Sells $1.2 Billion in Junk Bonds to Help Fund its Acquisition of Dubai-based Careem

Uber sold a larger-than-expected $1.2 billion of bonds rated in the lowest tier of junk this week. The proceeds of the bonds will be used to help fund its $3.1 billion purchase of Dubai-based ride-hailing company Careem, Uber’s biggest competitor in the Middle East region.

FutureCar Staff 2019-09-13 15:30 PT

U.S. Justice Dept Charges Former Head of Uber ATG with Stealing Trade Secrets From Waymo

U.S. Justice Dept Charges Former Head of Uber ATG with Stealing Trade Secrets From Waymo

​The saga between Uber and Waymo over the theft of trade secrets continues on. On Tuesday, the U.S. Department of Justice filed criminal charges accusing former Google engineer Anthony Levandowski for stealing trade secrets from the company’s self-driving car subsidiary Waymo and taking them to rival Uber Technologies Inc.

Eric Walz2019-08-27 11:50 PT

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