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Robo-Taxi Developer Zoox Raises $500 Million
Zoox Inc. has attracted $500 million in new funding for its efforts to launch an electric self-driving taxi as soon as 2020.
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Zoox Inc. has attracted $500 million in new funding for its efforts to launch an electric self-driving taxi as soon as 2020.
The deal values the Menlo Park, Calif.-based startup at $2.7 billion, according to the Financial Times. Founder Tim Kentley-Klay tells FT the new funds will pay for the company’s product development into late 2019.
Last August , Bloomberg News reported that Zoox added more than a dozen engineers that formerly worked on Apple Inc.’s secretive autonomous car program.
Other hires last year include Corrado Lanzone, the former operations director of Ferrari NV’s racing program, as head of manufacturing; and Mark Rosekind, the former head of the U.S. National Highway Traffic Safety Administration, as chief safety innovation officer.
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