Amazon is currently negotiating to buy the startup Zoox, which specializes in the construction of autonomous cars. The young shoot is working on an electric robot taxi project.
Although neither of the two companies has confirmed that they are in advanced negotiations, this information was revealed in the Wall Street Journal. Zoox was valued at $ 3.2 billion in 2018, but the transaction amount currently in talks would be lower, around $ 1 billion according to experts.
If this transaction were to succeed, Amazon would find itself in direct competition with Tesla and Uber. Competition is very tough in this area since Zoox admitted last month to have stolen confidential documents from Tesla. Financial compensation had also been provided to compensate Elon Musk's business.
Amazon's growing interest in autos
The American giant’s growing interest in autonomous vehicles can be explained by the desire to provide its delivery service with such technology. In fact, using deliverers or logistics companies represents a significant cost, this technology would save money. These vehicles could easily deliver 7 days a week and 24 hours a day.
The young company that was founded in 2014 is developing equipment and software that could be used to manage a fleet of electric robot taxis. Future customers could also start using this service this year.
Like many businesses during the Covid-19 crisis, Zoox is in trouble and has laid off workers. Several companies would have been interested in buying it. The young shoot indeed declared to have " received expressions of interest in a strategic transaction from multiple parties and worked with [the bank] Qatalyst Partners to assess this interest".
It should be noted that Amazon has already tried to position itself in the autonomous vehicle sector. Indeed, it participated in a $ 530 million round of funding to finance the Aurora company's project in 2019.