Apple Buys Self-Driving Shuttle Startup Drive AI
(Reuters) - Computer giant Apple Inc on Tuesday confirmed that it has acquired Silicon Valley-based self-driving shuttle firm Drive.ai.
Technology news website The Information reported earlier this month that the iPhone maker was considering acquiring the firm as a move to bring aboard some of its engineering talent to boost Apple's own self-driving efforts.
One of hundreds of startups pursuing autonomous vehicles, Drive.ai had been running a small fleet of self-driving test shuttles in Texas, The Information reported. But the startup told California regulators that it plans to lay off 90 people in a permanent closure. The San Francisco Chronicle earlier reported the closure.
In Silicon Valley, it is common for larger companies to acquire struggling startups primarily to hire their engineers, a move known in the industry as an "acqui-hire."
Apple is vying against rivals such as Alphabet Inc's Waymo to develop self-driving vehicles. In the past year, Apple has revamped its efforts, bringing former Tesla Inc engineering chief Doug Field to oversee the operation, which includes more than 5,000 workers.
Apple is also working on key components such as sensors in addition to holding talks with potential suppliers.
- German Car Rental Company Nextmove Cancels its $5M Tesla Order Over Quality Issues
- NIO Co-founder and Former VP Resigns from the Company
- Volkswagen Reports a 3.3% Drop in Vehicle Deliveries for July
- U.S. Automakers GM, Ford Planning for Possible Economic Downturn
- Tesla Owner Files Lawsuit Claiming the Automaker Reduced the Battery Power of the Model S
- Ride-Hailing Giant Uber Posts $5 Billion Loss as Growth Slows
- Honda to Recall 222,674 Accord Models in China Over Engine Problems
- Audi Unveils e-tron Electric Scooter, Skateboard Combo