Uber pushes for self-driving cars after losing $900 million
- August 24, 2018 Uber is facing some inner turmoil and restructuration after facing massive losses. The company’s Advanced Technologies Group division focuses on autonomous vehicles and self-driving technology. CEO Dara Khosrowshahi remains undecided on whether or not to shut down the ATG division, which reportedly burns through $100-$200 million per year. Uber Download Free ► Uber’s ATG division remains the centerpiece of constant argument within the company. Because Uber takes a loss with every ride due to driver payout, many argue that automated driving technologies are the key to the company’s future, especially as rival ride-sharing services and auto manufacturers race to create the world’s first viable driverless cars. Supporters argue that by moving away from a driver-based model, Uber can curb losses and create a much higher profit margin, which is especially important now as the company plans to go public in 2019. Ube...
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