Amazon in advanced talks to buy self-driving startup Zoox - WSJ

Amazon in advanced talks to buy self-driving startup Zoox - WSJ

Amazon.com Inc is in advanced talks to buy self-driving startup Zoox Inc, in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology, the Wall Street Journal reported on Tuesday.

The logo of Amazon is seen at the company logistics center in Lauwin-Planque
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, March 19, 2020. REUTERS/Pascal Rossignol/Files

REUTERS: Amazon.com Inc is in advanced talks to buy self-driving startup Zoox Inc, in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology, the Wall Street Journal reported on Tuesday.

The deal will value Zoox at less than the US$3.2 billion it achieved in a funding round in 2018, the Journal reported, citing people familiar with the matter.

An agreement may be weeks away and the discussions could still fall apart, the report added.

Amazon has stepped up its investment in the car sector, participating in a US$530 million funding round early last year in self-driving car startup Aurora Innovation Inc.

Both Amazon and Zoox declined a Reuters request for comment.

(Reporting by C Nivedita in Bengaluru; Editing by Ramakrishnan M.)

Source: Reuters

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