Did you know the Amazon acquires self-driving start-up Zoox for over $1.2bn, 2021

Amazon acquires self-driving start-up Zoox for over $1.2bn

Deal is ecommerce group’s biggest investment in autonomous vehicle sector

JUNE, 28, 2020

Zoox technology could be used to expand Amazon’s delivery fleet, though one person familiar with the deal expects the ecommerce group to push into ride-hailing

Also, Twitter says about Amazon will acquire self-driving start-up Zoox for more than $1.2bn, marking the ecommerce group’s biggest investment into the autonomous vehicle sector.

Amazon intends to work with Zoox to create a fleet of self-driving taxis, in competition with Alphabet’s Waymo, said one person familiar with the deal.

But analysts also suggested that Amazon may use Zoox to build self-driving delivery vehicles.

Amazon has also bought smaller stakes in electric truckmaker Rivian and the self-driving start-up Aurora. Zoox will operate as a standalone business, Amazon said, with its leadership unchanged.

“Zoox is working to imagine, invent, and design a world-class autonomous ride-hailing experience,” said Jeff Wilke, who runs Amazon’s consumer business.

“Like Amazon, Zoox is passionate about innovation and about its customers, and we’re excited to help the talented Zoox team to bring their vision to reality in the years ahead.”

Talks between Amazon and Zoox were first reported in May.

The purchase price, which has not been officially disclosed, is a steep discount to the $3.2bn valuation that the six-year-old Zoox had in July 2018, according to two people familiar with the deal.

While Zoox had been planning to launch a pilot programme this year, the company was knocked by the coronavirus pandemic and had been seeking a sale since May.

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