Uber is selling off its driverless car unit - a move that reverses a previous important strategy item to position the company for the future of transportation.
The decision doesn't completely remove the ride-hailing giant from the development of autonomous vehicles into the mass market but it signals a downplaying of the concept in the core Uber business.
Uber's Advanced Technology Group will become part of Aurora Technologies, a self-driving platform that combines software, hardware and data services to operate passenger vehicles,
by way of a $400 million investment from Uber.
Uber will get a 26% in Aurora as part of the deal.
Uber CEO Dara Khosrowshahi, who will join the Aurora board of directors, says the company remains interested in autonomous driving technology and services, with a view to "bringing the Aurora Driver to the Uber network in the years ahead."
The scaling back of Uber's ambitions in the driverless vehicles arena coincides with Amazon (itself a backer of Aurora through a previously undisclosed investment) getting ready to unveil what some believe could be a "robotaxi"-type vehicle before the
end of 2020.
Autonomous software and development company Zoox, which Amazon acquired for a rumored $1 billion in June this year,
is expected to release details about its vehicle next week.
The brand was spotted being engaged in filming of its so-far unseen vehicles in San Francisco last weekend.
The development of the Zoox service into what could be a more publicly accessible system will fuel speculation that the Big Tech,
rather than the automotive industry, is likely to be driving force behind the acceleration of autonomous vehicles into the mainstream.
Uber's playbook is now clearly focused on the Uber Eats and ride-hailing business, with its Uber Elevate also being offloaded in a similar deal as to the one facing the autonomous driving unit.
Joby Aviation is buying Uber Elevate (the company's division focused on development of aerial, vertical takeoff and landing vehicles) and will get investment from Uber to the tune of $75 million.