Aurora Innovation (Aurora) is an autonomous vehicle technology startup founded by former Google, Tesla, and Uber executives, listed on Nasdaq since November 2021. It provides autonomous vehicles under two divisions, namely “Aurora Horizon” (its autonomous trucking service) and “Aurora Connect” (its autonomous ride-hailing service). Both are powered by the company’s self-driving technology “Aurora Driver.” In July 2020, the company tested Aurora Driver using Peterbilt class-8 trucks and Chrysler Pacifica minivans. The vehicles were tested on commercial routes for package delivery in Texas. The company has its own LiDAR sensor system, “FirstLight Lidar,” integrated into its Aurora Driver technology. It has acquired two LiDAR startups, namely Blackmore (May 2019) and OURS Technology (February 2021), to expedite and complement the development process. The company will provide the service to customers on a subscription basis once commercialized in 2023.
Aurora also acquired Advanced Technologies Group (ATG), Uber’s self-driving car unit in December 2020, to complement its autonomous technology development. As part of the transaction, upon transferring ATG to Aurora, Uber invested USD 400 million in Aurora and Uber’s CEO joined Aurora’s board. In August 2021, Aurora launched its “Fusion” next-generation hardware kit to integrate its technology with Uber ATG’s and improve the decision-making speed and accuracy of Aurora Driver and enable autonomous vehicles to operate in varying weather conditions, including rain, snow, and fog. In December 2021, the company also partnered with Uber Freight to launch a pilot to haul goods in Texas and integrate Uber Freight's shipping platform within Aurora Horizon.
In January 2021, Aurora partnered with the medium and heavy-duty truck manufacturer Paccar to develop and deploy autonomous trucks. The plan is to test autonomous Peterbilt and Kenworth trucks at Paccar’s technical center in Washington and on public roads. The companies expect to deploy the trucks in North America within the next few years. The companies also partnered with logistics provider FedEx in September 2021, to launch a commercial pilot of autonomous trucks in linehaul trucking operations, by configuring Paccar’s trucks with “Aurora Driver'' to haul FedEx loads between Dallas and Houston. These trucks operate autonomously with a backup driver for additional safety, which is reported to be in line with Aurora’s target to launch autonomous trucking technology to operate without a safety driver by the end of 2023. In March 2021, Aurora also partnered with Volvo to jointly develop autonomous semi-trucks for the North American market. The prototype version of the truck was unveiled in September 2021.
Aurora was listed on the Nasdaq in November 2021 by merging with a special purpose acquisition company (SPAC), valuing the combined entity at USD 13 billion.
No investor data is available