Investors tell Uber to ditch self-driving car program, report says

Investors tell Uber to ditch self-driving car program, report says

6 years ago
Anonymous $oIHRkISgaL

https://www.cnet.com/roadshow/news/investors-uber-self-driving-car-program/

Some investors have suggested to Uber that it should sell off its AV development program, The Information reports, citing a source familiar with the matter. An Uber spokesperson declined to comment on the report.

The Information reports that Uber has spent between $125 million and $200 million per quarter on its AV development over the last 18 months, totaling "at least" $2 billion since the program's inception. Uber does not separate its AV-related finances in its quarterly earnings reports, but The Information claims that the losses from its self-driving unit comprise between 15 and 30 percent of Uber's quarterly losses.