This content is not available in your region

Uber considers minority investors for self-driving car unit - FT

Uber considers minority investors for self-driving car unit - FT
FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo   -   Copyright  Hannah Mckay(Reuters)
Text size Aa Aa

(Reuters) – Uber Technologies Inc is considering selling minority stakes in its costly self-driving car unit as the ride-hailing firm tries to address rising cost pressures ahead of its initial public offering, the Financial times reported on Wednesday.

Uber received interest from potential investors and could spin off its Advanced Technologies Group into a separate business unit with its own valuation and equity, FT reported citing people familiar with the matter.

Uber will retain operational control and majority ownership of the unit, but external partners could share the cost of developing and eventually commercialising self-driving technology, the newspaper said.

Uber immediately respond to an email seeking comment.

(Reporting by Rishika Chatterjee in Bengaluru; Editing by Gopakumar Warrier)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.