financetom
Technology
financetom
/
Technology
/
Uber invests in UK startup Wayve to speed up self-driving projects
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Uber invests in UK startup Wayve to speed up self-driving projects
Sep 1, 2024 4:03 AM

LONDON, Aug 29 (Reuters) - Ride-hailing platform Uber ( UBER )

will invest in Wayve to help the British self-driving

technology startup work with major automakers to speed up the

development of its systems, the two companies said on Thursday.

The companies did not disclose the size of the investment.

But they said it would be added to the $1.05 billion in Series C

funding Wayve announced in May, which was led by SoftBank Group

.

Wayve has developed "Embodied AI" technology that it says

can learn from and adapt to human behaviour.

The company said it would use the funding and support to

accelerate the development of Level 2 and Level 3 driver

assistance and automated driving functions with automakers,

"while also working towards the development of globally scalable

Level 4 autonomous vehicles for future deployment on Uber ( UBER )."

Level 2 systems are designed to perform basic tasks

autonomously, such as staying in lane or maintaining a set

distance from other cars, while Level 3 cars are meant to drive

themselves, but require the driver to pay attention.

Level 4 autonomous vehicles are designed to drive themselves

under most circumstances and take action on their own in

dangerous situations.

While automakers and autonomous vehicle software companies

have had more success with basic driver assistance functions

such as lane-keeping systems, developing vehicles that can truly

drive themselves has proven more difficult and much more

expensive than many had expected.

Among the main challenges is that self-driving software

systems have lacked humans' ability to predict and assess risk

quickly, especially when encountering unexpected incidents or

"edge cases" where autonomous vehicles get stuck because they

cannot work out what to do.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved