Image: Pascal Rossignol/Reuters
Amazon.com has agreed to pay over US$1-billion to buy self-driving start-up Zoox, The Information reported on Thursday, citing sources, in a move that would expand the e-commerce giant’s reach in autonomous vehicle technology.
A majority of Zoox investors are getting their money back, with some making a positive return, the report added.
Amazon and Zoox did not immediately respond to a request for comment.
The Wall Street Journal reported last month that the companies were in advanced talks and the deal could value Zoox at less than the $3.2-billion it achieved in a funding round in 2018.
Amazon has stepped up its investment in the car sector, participating in a $530-million funding round early last year in self-driving car start-up Aurora Innovation.
