Fiat Chrysler teams up with Amazon-backed driverless car start-up Aurora
Summary
" The deal will enable Aurora to expand the scope of its self-driving software, the firm said, "allowing us to offer a variety of solutions to strategic customers in logistics, transit, and other use cases. The deal could have helped the two align their strategy on innovations like electric and self-driving cars, a space that has become a central battleground for major carmakers worldwide. "As part of FCAs autonomous vehicle strategy we will continue to work with strategic partners in this space to address the needs of consumers in a rapidly changing industry," Fiat Chrysler CEO Mike Manley said in a statement Monday. The Palo Alto, California-based company raised $530 million earlier this year, in a round that was backed by leading venture capital firm Sequoia and e-commerce titan Amazon. The firms autonomous driving division, known as Project Titan, underwent a big restructuring earlier this year, laying off over 200 employees.