Uber might be finally ready to spin off their autonomous vehicle unit, but will still be in control of the business, according to reports.
The ride-hailing company is mulling the possibility of spinning off the self-driving car unit into its own entity and taking investments from outside parties that would get a minority stake in the business, the Financial Times reports, citing sources. Those investments would help the company defray the high cost of developing autonomous vehicle technology, but wouldn’t be large enough for those small investors to wrest control over the company from Uber, according to the report.
Uber has been one of the more vocal proponents of self-driving cars and the opportunities they present in the mobility industry. The company has a slew of licenses to test the technology, but it’s also in a tough battle for supremacy in that market against major companies like Alphabet’s Waymo, General Motors, and Apple.
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