Amazon ‘in talks to buy Zoox’

SAN FRANCISCO: Amazon.com Inc is in talks to buy robo-taxi startup Zoox, accelerating its efforts when it comes to self-driving vehicles, The Wall Street Journal reported on Tuesday.

Alphabet Inc, Uber Technologies Inc, Tesla Inc and major carmakers have been investing in technology that eliminates the need for humans to navigate vehicles.

Amazon has its own team in the race and is said to be pursuing the technology with an eye toward using it in trucks moving goods for the e-commerce colossus.

Amazon and Zoox are in advanced negotiations of a deal that would value the startup at less than the $3.2 billion it was estimated to be worth in a funding round two years ago, the Journal reported, citing unnamed people with knowledge of the matter.

The takeover talks could yet break down, according to the report.

Based in Foster City near San Francisco, Zoox was founded in 2014 with a mission to build a “fleet of fully autonomous, battery electric, zero-emission vehicles that are purpose-built and optimized for ride-sharing in cities.”

Zoox late last year targeted Las Vegas as a market for an “autonomous driving fleet and service” by vehicles that could be summoned using a smartphone app, according to its website.