[Update] Uber Invests $375 Million to Get Self-Driving Google Cars on the Road
A driverless car is on display at Google Headquarters in Mountain View, California on Tuesday, September 25, 2012. Gary Reyes / San Jose Mercury News
We should have known that Uber would be more likely to spend $375 on PR than concrete assets that would generate real profits.
Excerpt from TechCrunch
Editor’s Note: The TechCrunch story we curated was speculation from the “future.” There is no investment. We regret the confusion.
As part of its second-quarter earnings announcement today, local transportation and delivery giant Uber announced its biggest bet on autonomous vehicles yet, saying it would purchase 2,500 driverless cars from Google. In addition, the two companies have agreed to a deal in which Uber will share data from its local transportation services with Google, which will use it to further improve its own autonomous car-routing algorithms.
Uber has committed to invest up to $375 million for a fleet of Google’s GX3200 vehicles, which are the company’s third generation of autonomous driving cars, but the first to be approved for commercial use in the U.S.