Amazon is acquiring self-driving car startup Zoox at $1 billion

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2020-06-26 11:54:20
Amazon is acquiring self-driving car startup Zoox in a deal estimated to be worth over $1 billion. The 1000-person startup has been working to develop a “bi-directional” self-driving vehicle with no set front or back. Continue reading on The Verge Amazon is acquiring self-driving car startup Zoox in a deal estimated to be worth over $1 billion, The Information and The Financial Times are reporting. The deal would give Amazon control of the nearly 1,000-person startup that has been developing an electric self-driving vehicle. The deal could be announced as early as today. Rumors of the acquisition first emerged last month, when it was reported that Amazon would acquire Zoox for less than the $3.2 billion it was valued at back in July 2018. The acquisition would be Amazon’s biggest investment yet in self-driving car technology, and one of its biggest purchases ever. However, at the moment it’s unclear what exactly Amazon plans to use the technology for. The Information notes that Amazon could use the technology for autonomous deliveries, similar to its existing robot and drone delivery projects, while the Financial Times says that Amazon will use the acquisition to produce an autonomous ride-hailing fleet to compete with the likes of Alphabet’s Waymo.
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