Aurora Innovation CEO Chris Urmson recently outlined several options for the self-driving technology company to deal with challenging market conditions, including a possible sale to Apple or Microsoft, according to Bloomberg News.
Citing an internal memo, the report said Urmson, who co-founded Aurora after running Google parent Alphabet’s self-driving car program, also proposed measures including cutting costs, taking the company private and spinning off or selling its assets.
Aurora declined to comment. But the company’s shares closed up 15 percent on Friday.
▲ Photo source: Aurora official website introduction
Aurora Innovation is one of the leading development companies in self-driving technology, with major rivals such as Tesla, Cruise and Waymo as leaders in the self-driving space.
In recent years there has been talk that Apple is advancing its self-driving car technology and plans to produce a passenger car in 2024 that could be equipped with its own breakthrough battery technology. Of course, there are those who currently disagree about whether Apple is building a car itself or not, but it’s safe to say that Apple is indeed working on self-driving technology.
In addition to Apple, Microsoft has just invested in San Francisco-based self-driving car maker Cruise, which is valued at $30 billion and includes General Motors as a major shareholder.
Last month, Aurora also said they would delay delivery of their autonomous cargo trucks by a year to the first half of 2024 due to supply constraints.
Bloomberg reports that other options presented by Urmson in the memo include acquiring companies in the industry for $150 million to $300 million in cash, as well as a hiring freeze and layoffs.
