Latest news with #selfdrivingtrucks
Bloomberg
20-05-2025
- Automotive
- Bloomberg
Uber Squeezes More From Aurora Stake With $1.2 Billion Bond Sale
By and Anthony Hughes Save Uber Technologies Inc. 's $1.2 billion exchangeable bond deal, linked to its shares in a self-driving truck firm, shows why the unusual financial maneuver can be more attractive than a typical stake sale, according to observers. Last week, the San Francisco-based ride-hailing company issued exchangeable senior bonds tied to its stake in Aurora Innovation Inc. The deal was priced on favorable terms for Uber, with zero coupon and a 16.1% conversion premium that was above the marketed range.
TechCrunch
08-05-2025
- Automotive
- TechCrunch
Aurora to add night driving, new routes as it ramps driverless trucking
Autonomous vehicle technology company Aurora Innovation plans to expand on the success of its first driverless commercial launch and add night driving to its operations. Aurora said Thursday in the second half of 2025 it will start sending its self-driving trucks out at night and during adverse weather conditions like rain or heavy wind. The company, which provided the update in its first-quarter shareholder letter, also plans to expand its driverless trucking route beyond Dallas to Houston, and into El Paso and Phoenix. Aurora already runs freight with self-driving trucks in those conditions, but with a human safety operator behind the wheel. The company said it has completed more than 4,000 miles in a single self-driving truck without a driver ruuning freight for its launch customers Hirschbach Motor Lines and Uber Freight. In the week since Aurora's commercial launch, the company has already expanded to two driverless trucks operating on a daily basis, and says it expects to operate 'tens of trucks' by the end of 2025. The milestone, and future plans come alongside another major shift at the company: the resignation of co-founder and chief product officer Sterling Anderson. Aurora shared new details Thursday in its first-quarter shareholder letter about plans to grow its autonomous freight service, signaling it will offer more specific timelines for key milestones as it expands. Aurora reported $211 million in operating expenses, including $153 million for R&D. It used $142 million in operating cash and $8 million in capex in the first quarter, ending with nearly $1.2 billion in cash and short-term investments. Aurora expects to spend $175 to $185 million per quarter for the rest of this year. The company didn't provide revenue figures in its Q1 report. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW In the short-term, Aurora plans to own, operate, maintain and insure its own trucks – made available on the Uber Freight network – for customers. The company is working with partners Paccar and Volvo Trucks to build self-driving trucks at scale. Starting in 2027 or earlier, Aurora expects customers to buy those trucks directly from manufacturers so it can shift to a driver-as-a-service model.
