Amazon is in advanced talks to purchase self-driving vehicle start-up Zoox

Shawn Knight

Posts: 13,184   +132
Staff member

Amazon is reportedly in advanced talks to purchase self-driving vehicle start-up Zoox. Sources familiar with the matter tell The Wall Street Journal that the deal would value the company under $3.2 billion, the valuation its 2018 round of funding was based on.

A formal agreement could still be several weeks out, one source cautioned, and it’s possible that talks could fall through even at this late stage.

A spokesperson for Zoox told the publication that it has been receiving interest regarding a strategic transaction from multiple parties and is working with Qatalyst Partners to evaluate the offers.

Founded in 2014, Zoox’s vision is to create an autonomous vehicle for the robo-taxi market. The firm raised $800 million in funding back in 2018 but according to the Journal, has struggled to raise additional capital.

Amazon has been exploring the use of autonomous and electric tech for years to help with deliveries and general logistics. Back in September, for example, the company ordered 100,000 electric delivery vans from automaker Rivian with plans to have the entire fleet in commission by 2030. Last summer, the e-commerce giant also started experimenting with delivery robots in Southern California and conducted its first Prime Air drone delivery in 2016.

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Posts: 5,574   +5,285
All these EV start-ups have one thing in common - they don't know jack about mass-producing quality vehicles. It takes years of tweaking, after starting mass production, to get to a point of making something good, and that's provided they do everything right. And those start-ups do not even have any mass-production facilities.

And those Wall-Street valuations are not worth anything, just like stock rating agencies, all get paid to give you whatever you want.
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Posts: 1,469   +736
But this is more about taking already developed auto tech and just adding self driving to it.
And I am 100% confident that self driving cars will take off.
The question is when. But the first companies getting to the finish line where their cars are 99.9 safe on the road and places around will be reaping billions. You dont even have to be the first or the second company to succeed. There will be enough market to share for a bunch of self driving companies. And thats why big companies keep buying self driving companies.

Uncle Al

Posts: 8,014   +6,783
At 64, I'm hoping self driving vehicles not only show up, but soon! Having one will allow me to stay in my home a lot longer without having to depend on anyone else. The only thing better would be one of those fully functional robots that can drive, cook, and have a nice set of boobs ...... not sure why the last one is important but I seem to remember a time when that was of the upmost importance .....