Uber starts selling driverless car subsidiary to focus on profits

CNI Desk: Uber is selling its driverless car subsidiary to start-up Aurora Technologies, abandoning a unit that Uber's founder once hailed as critical to the future of the firm.

Aurora, founded in 2017, said the deal will help it "accelerate" its mission to make self-driving cars a reality.

Uber will invest $400m in the Amazon-backed company, giving it a 26% stake.

Its chief executive Dara Khosrowshahi will also serve on Aurora's board, following closure of the deal.

Despite the sale of its driverless car subsidiary known as Advanced Technologies Group, Uber said it remained interested in the sector, with plans to collaborate with Aurora when it comes to launching driverless cars on its network.