New technology has a way of consistently transforming American life, and self-driving cars have long been viewed as the inevitable future by many industry experts. Indeed, Intel data famously predicted in 2017 that self-driving cars would soon usher in a $7 trillion industry by 2050.
However, things have not gone as expected in the year since that bold prediction. After a number of high-profile self-driving car accidents, including a fatal Uber accident in March of 2018, American confidence in the technology seems to have plummeted. A study conducted by AAA revealed in April of 2018 that only 1 in 5 Americans would trust riding in a vehicle that is self-driving.
These findings likely come at a difficult time for Uber, a company that is reportedly spending up to $200 million per quarter on AV development for its self-driving car program. And, now it appears that investors are trying to steer Uber toward a future that ditches its self-driving program, despite this large investment.
Will Uber Get Rid of Its Self-Driving Car Program?
Just last month in July of 2018, Uber chose to get rid of its self-driving truck division. At the time this news was released, there were no news reports indicating that investors were growing weary of Uber’s extensive investments into self-driving cars.
Now, there is reason to believe that investor pressures may have led to Uber’s decision to nix its truck division. According to reporting by The Information, Uber’s losses have mounted to such an extent that investors are pressuring Uber to sell off its AV development program altogether.
Further, The Information also estimates that up to 30 percent of Uber’s quarterly losses can be pinned on losses from Uber’s self-driving unit. Naturally, the investment in self-driving cars is almost assuredly a long-term growth strategy for Uber since such technology has been touted as the future of transportation. It seems, rightly or wrongly, that investors have grown patient as the self-driving division’s quarterly losses have added up.
Interestingly, reports have surfaced indicating that Uber CEO Dara Khosrowshahi is not opposed to selling off the self-driving unit, albeit not without receiving fair value in return. Additionally, Uber has also sought out self-driving partnerships with other leading self-driving innovators such as Waymo and GM’s Cruise Automation.
Of course, these are perhaps inevitable rumblings when investors are not seeing a profit from Uber’s self-driving endeavor. The Ledger Law Firm will continue monitoring the latest Uber self-driving news since accidents involving self-driving vehicles raise additional legal complexities related to an accident victim’s legal claim.
If you or a loved one has been injured in an Uber self-driving accident or an Uber accident involving a regular vehicle, an Uber accident lawyer is ready to discuss your legal claim.
Contact us online to receive a free case evaluation and speak with a Ledger Law self-driving accident lawyer about the facts of your accident.
