viewAmazon.com, Inc.

Amazon acquires self-driving car group Zoox

The purchase follows previous investments by the e-commerce giant in other autonomous vehicle groups such as self-driving car firm Aurora and electric truck developer Rivian

Amazon.com, Inc. - Amazon acquires self-driving car group Zoox

Amazon Inc (NASDAQ:AMZN) has acquired self-driving car start-up Zoox for over US$1.2bn in a major foray into the autonomous vehicle sector.

The e-commerce giant is planning to work with the company to develop a ride-hailing fleet that can potentially be expanded out into a robotaxi service, according to reports.

READ: CMA revises findings in Amazon/Deliveroo probe, approves investment

The move will also place Amazon in competition with Google owner Alphabet Inc (NASDAQ:GOOG), which is also looking to enter the self-driving car space through its Waymo subsidiary.

Amazon’s purchase of Zoox also follows previous investments in another self-driving car firm Aurora as well as electric truck group Rivian.

Autonomous driving also has the potential to boost Amazon’s business as it looks to find new, innovative technologies to deliver goods to customers, particularly as the coronavirus pandemic has led to a surge in demand for online delivery.

The acquisition will also help support Zoox during the pandemic, which has hit a number of driverless technology companies and resulted in layoffs.

Quick facts: Amazon.com, Inc.

Price: 3211.01 USD

Market: NASDAQ
Market Cap: $1.59 trillion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Alta Zinc explain potential of high-grade cobalt-nickel and copper-silver...

Alta Zinc Ltd's (ASX:AZI) Managing Director, Geraint Harris talks to Proactive about their projects in Italy and Australia. He explains the latest fieldwork at Punta Corna project in Northern Italy which has been 'focused on gaining more samples' from new veins that contain cobalt, nickel,...

9 hours, 9 minutes ago

2 min read