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Uber is Losing Money Hand Over Fist With Its Self-Driving Cars

Uber’s self-driving car operation is losing money quarter-after-quarter.

According to the ride-hailing giant’s latest figures, it is losing up to $200 million a quarter over the last six quarters with its Advanced Technologies Group, its autonomous unit, accounting for roughly a third of its quarterly losses, with $2 billion spent over a 3 year period.

For perspective, Uber is valued at $62 billion with plans to go public by the end of next year.

Its self-driving troubles have been well documented, capped by a March 18 pedestrian death in Arizona by an ex-con operating one of its autonomous vehicles. This led to suspended operations in Pittsburgh and Toronto, with alternative options now being considered, including alternative partnerships that licenses Uber?s autonomous driving technology or selling the unit outright.

At the moment, however, Uber is playing a straight poker face on its plans.

?Right now the entire team is focused on safely and responsibly returning to the road in autonomous mode,? said Uber in a recent statement. ?That?s our number one objective, and we have every confidence in the work they are doing to get us there.?

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