Motional to pause robotaxi deployments with Uber, Lyft [Globe and Mail, The (Toronto, Canada)]
Uber Technologies, Inc. (UBER)
Last uber technologies, inc. earnings: 2/6 04:05 pm
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Source: Globe and Mail, The
Uber Technologies and Lyft decrease , while it lays off staff as part of its restructuring process to focus on technology development. The development comes ahead of electric carmaker Tesla's unveiling of its robotaxi, dubbed “Cybercab”, on Aug. 8 and as legacy automakers limit spending on expensive autonomous driving technology in the face of regulatory and safety hurdles. Motional said it has completed more than 100,000 autonomous rides in Las Vegas and food deliveries in Los Angeles. “Large-scale driverless deployment will not happen overnight. Driverless vehicles will enter the market when the technology has evolved and – just as importantly – when the business case for autonomous deployment is clear,” CEO Karl Iagnemma said in a blog post. Motional said in a statement it expects “to resume commercial deployments once the unit economics are more favorable”. Lyft and Uber did not immediately respond to requests for comment on the pause of their partnerships with Motional.
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UBER
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- 5/8/24 - Miss
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- 5/17/24 - Form 4
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- 5/15/24 - Form 4
- UBER's page on the SEC website