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Certainly one of Aurora’s autonomous Peterbilt semi-trucks. | Supply: Aurora
Aurora introduced in $83 million in income by way of collaborations with FedEx, Uber, Peterbilt, U.S. Xpress and Volvo. Its working bills, together with stock-based compensation, totaled $813 million. In complete, Aurora misplaced greater than $750 million in 2021.
In November 2021, Aurora went public by way of a SPAC deal and commenced buying and selling on the Nasdaq. These are its first full-year monetary outcomes since turning into a publicly-traded firm.
“We ended the yr with a really sturdy stability sheet, together with $1.6 billion in money, enabling us to proceed to execute our mission of delivering the advantages of self-driving know-how safely, rapidly, and broadly,” Richard Tame, chief monetary officer of Aurora, wrote within the firm’s shareholder letter.
The autonomous car firm, based in 2017, plans to launch its product for autonomous trucking in late 2023, and its product for journey hailing in late 2024. Aurora’s fleet of autonomous vehicles is now made up of 18 vehicles, greater than double the truck it had going into the fourth quarter of 2021.
FedEx and Aurora launched its pilot program in September 2021. Peterbilt vehicles geared up with Aurora’s autonomous driving know-how are hauling FedEx hundreds between Dallas and Houston. Aurora has an identical cope with Uber Freight, the place it hauls hundreds for Uber clients.
It’s additionally working with Uber Freight to combine entry to its digital freight community inside Aurora Horizon, its autonomous trucking product. The corporate’s hope that combining the 2 will give service instruments to maximise operations and streamline provide chain operations.
Aurora is working with Peterbilt and Volvo to develop autonomous vehicles. It’s additionally working with Volvo to assist Volvo’s Autonomous Options’ transport answer within the U.S.
“In fact, constructing a transformative know-how and an important firm takes time, however we imagine the progress our group has achieved within the final 5 years, and the foundational investments we’ve made, set us up for distinctive progress,” CEO and co-founder of Aurora Chris Urmson wrote within the firm’s shareholder letter.
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