Uber Partners with Otto
In San Francisco the company Uber is the largest ride sharing hailing network in the world and has long envisioned a future where cars are ultimately self driving. Now that future could be closer than we all think. Just this past Thursday Uber announced it had acquired the car company Otta which is a 90 person start up which is focused on developing self driving truck tech that will also aim to upend the trucking and shipping industry irreversibly for ever. “More and more the world of atoms is interacting with bits, In order to provide digital services in the physical world, we must build sophisticated logistics, artificial intelligence and robotics systems that serve and elevate humanity.”
Uber if you can believe it would not make a comment on the terms of the acquisition. But some are saying that according to a person who was briefed on the deal, Uber aim to pay out 1 percent of its most current valuation, which is about 68 million dollars after the acquisition but according to a person briefed on the deal. Today Otto current shareholdings will also be entitled to about 20 percent of the profits of any self driving trucking business the company is able to build over time.
The move is the most recent indication that Uber has ambitions for the future and is always trying to stay one step ahead of their only real competition Lyft. And the acquisition of Otto adds to Uber’s growing bench experts in autonomous vehicles research, an area in which the company can drastically behind some of its largest competitors including Google.
If you just to the other side of the country You will see that there is something brewing in Pittsburgh PA. Uber Techologies Inc is going to be releasing 100 autonomous Volvo’s by the end of September. On Thursday Uber announced it wold soon put 100 volvo cars XC9 Sport utility cars on the roads of Pittsburgh. Where some customers will be able to summon them for short trips within the city limits. Its kind of funny that they are going with the Volvo because they pride themselves on being one of the safest cars in the world. The joke being that they are saying they are confident in their cars performance and its autonomous capabilities, but just in case it crashes they are hedging all their bets to make it work to avoid liability. This really is a kind of make or break gamble for the autonomous vehicle world. The thing is that when you put it to peoples minds they have a kind of stuff to make it seem like they know what they are doing and above all they want to make people think that they are the best at it. They want Uber to be nonvenomous with autonomous vehicles, but could this gamble come back and bite them in the ass? Probably. The thing is that all new tech will have glitches, it is a kind of inevitability of our times. But when it comes to cars its literally life or death.