Autonomous car startup Zoox now valued at $1 billion

by SpeedLux
Images of Zoox car

Coming from Silicon Valley autonomous automobile designer called Zoox stated the secretive startup raised a fresh round of capital valuing it at more than $1 billion, roughly equal to a comparable service General Motors Co. obtained earlier this month.

Zoox executives have actually talked little in public about the Palo Alto, Calif., company’s strategies. The firm is developing innovation much like Alphabet Inc.’s Google, Google automobile task and Cruise Automation, which GM bought in a deal valuing it at more than $1 billion, as per individuals knowledgeable about the terms.

Zoox’s profile, has actually increased recently amid increased interest in autonomous automobiles and the potential for using them as self-driving taxis that can be deployed by ride-sharing services such as Uber Technologies Inc. While automobile giants including GM have been dealing with self-driving automobiles for several years, companies like Zoox might play an essential function refining the innovation. Zoox is one of 13 companies that have actually gotten licenses from California to check self driving automobiles on public roadways.

AID Partners Capital Holdings Limited this week revealed a $20 million financial investment for a Zoox stake that indicates a $1 billion-plus assessment for the start-up. AID Chairman and Chief Investment Officer Kelvin Wu thinks Zoox can deploy a fleet of fully autonomous cars by 2020 for ride-sharing services like those Uber offers.

Office workers are made up of parts of the whole, working on the project.
Vector illustration of teamwork concept. Office workers are made up of parts of the whole, working on the project.
Write For Us Automotive Blog - SpeedLuxSend us a Tip Automotive Car BLOG SpeedLuxJoin Our Team SpeedLux Automotive NewsContact Us Guest Posts Advertise Car BLOG

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.


©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More