According to the latest report, Aurora Innovation CEO Chris Urmson recently outlined several options for the self-driving technology company to deal with challenging market conditions, including a possible sale to Apple or Microsoft.
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Urmson, who co-founded Aurora after running the self-driving car project of Google parent Alphabet, has made proposals including cutting costs, taking the company private, and spinning off or selling assets, the report cited an internal memo.
Aurora declined to comment. However, the company’s shares closed up 15% on Friday. Aurora Innovation is one of the leading development companies in the field of autonomous driving technology, and its main opponents are leaders in the field of autonomous driving such as Tesla, Cruise, and Waymo.
There have been reports in recent years that Apple is advancing its self-driving car technology and plans to produce a passenger car in 2024 that could feature its own breakthrough battery technology. Of course, there are people who disagree on whether Apple builds the car itself or not, but it is certain that Apple is indeed developing self-driving technology.
In addition to Apple, Microsoft has just invested in Cruise, a San Francisco-based self-driving car maker that is valued at $30 billion and whose major shareholders include General Motors. Last month, Aurora also said it would delay deliveries of autonomous cargo trucks by a year to the first half of 2024 due to tight supplies.
Bloomberg reported that other options Urmson proposed in the memo include buying companies in the industry for $150 million to $300 million in cash, as well as freezing hiring and layoffs.
