Mexican Media Brands
Uber’s Self-Driving Tech Unit Worth $7.3 Billion?
Uber Technologies Inc.’s autonomous-car unit would be valued at $7.3 billion under a proposed new investment deal.
#economics
Share
Uber Technologies Inc.’s autonomous-car unit would be valued at $7.3 billion under a proposed new investment deal.
The funding would involve a combined $1 billion investment into the ride-share service provider’s Advanced Technologies Group by Denso and current Uber shareholders SoftBank Vision Fund and Toyota, sources tell The Wall Street Journal.
The deal could be announced within days, the newspaper says.
The scheme would enable Uber to retain operational control of ATG while offsetting part of unit’s hefty spending development costs. Some Uber shareholders have been pressing the company to shed the group, which has burned through some $1 billion in the past three years.
The deal also would buttress Uber’s planned initial public offering next month. The IPO is widely expected to value Uber at about $100 billion and raise about $10 billion for the company.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
