Published: Sat, June 02, 2018
Economy | By

Uber In Tech Sharing Talks With Alphanet’s Waymo

Uber In Tech Sharing Talks With Alphanet’s Waymo

Uber missed out on a reported $3 billion infusion from Warren Buffett, who wanted to invest in the ride-hailing company, but it may still benefit from Buffett's apparent willingness to back Uber's chief executive, Dara Khosrowshahi.

Khosrowshahi added that when Uber puts self-driving cars back on the road again, "we have to be absolutely satisfied we're getting back on the road it in the safest manner possible", which goes to show that it wants to step out of the shadow of the Arizona crash. "If not, you know, we can live with that too", He said talking about Waymo's cars being part of the Uber network.

"I'm a great admirer of [Uber CEO Dara Khosrowshahi]", Buffett said.

That said, Mr Buffett may view Apple and Uber less as technology companies than strong brands with loyal customers.

Uber and Waymo were locked in a bitter trade-secret lawsuit that was settled shortly before a court verdict was set to be handed down earlier this year. The vehicle, which was operating in self-driving mode, also had a driver assistant in the passenger seat at the time of the accident.

"Like Warren said, we did have discussions", Khosrowshahi said. It has, though, proceeded with plans to operate without Uber's help, developing a fleet of cars that it said has self-driven 6 million miles on public roads.

The lawsuit followed the career change of one of Waymo's former engineers, who later became chief of Uber's own self-driving auto project and reportedly took with him thousands of confidential documents.

Uber was also suspended from self-driving vehicle tests in Arizona by the state's governor Doug Ducey.

A successful investment by Buffett could have given Uber a much-needed publicity boost, as companies such as Apple Inc. AAPL, +0.12% and Teva Pharmeceuticals TEVA, +0.51% have recently received stock boosts after Buffett's increased stakes were revealed, reports Market Watch.

Waymo is well known for being the self-driving subsidiary of Google parent company Alphabet, whereas Lyft is America's second biggest ride-hailing app behind global leader and fierce competitor Uber. "Margins continue to get better".

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