Uber considers minority investors for self-driving car unit: FT
Summary
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 commercializing self-driving technology, the newspaper said.Uber Chief Executive Officer Dara Khosrowshahi said last month there was no plan to sell the self-driving car research arm.Uber and smaller rival Lyft’s initial public offerings, both expected in 2019, will test investor tolerance for money-losing technology unicorns.The company has been expanding its portfolio and seeking new avenues of growth, including food delivery services, even as it battles intense competition in its core business of ride hailing.