01 07

The company had a three-pronged approach to the auto industry: first as a creator of driverless technology, second as a ride-hailing network and third as a supplier of the software stack to firms (like, say, Amazon) that want to build their own fleets of driverless vehicles.

Amazon last year led one round of funding in electric vehicle maker Rivian and participated in a second round.

Zoox will continue to work on its basic vehicle aimed at ride-hailing firms like Uber and Lyft.

That would give the well-heeled Amazon some leverage in a sector where Uber has had to cut back on its own driverless technology development due to the COVID-19 pandemic.

Amazon is one of the companies expected to see a boost to revenues and profits from the pandemic.

Add your comment