“The company already has hired about 200 employees for the new business vertical. The new stores will be live by mid-September. OLX had experimented franchise model with its first few stores. But, now it realised merit in working by itself,” reveal sources on the condition of anonymity.
As Uber and Toyota look ahead to a self-driving future, this partnership will be critical in realizing self-driving technology at scale. Uber and Toyota anticipate that the mass-produced autonomous vehicles will be owned and operated by mutually agreed upon third party autonomous fleet operators.
The new business division, which is focused in part on mobility as a service, will house these solutions and investments, as well as newly-acquired Clutch Technologies, a technology platform powering subscription access for the automotive industry.
The company announced the funding raise Thursday along with a few other updates, including a new feature on its autonomous mapping product and a partnership with New York City. The capital will be used to hire more talent and expand.
In his new role, George will oversee ACV Auctions’ financial strategy, accounting and other operating functions as CFO. He brings 20-plus years of financial experience to the ACV Auctions executive team.
Since the start of the year, Waymo has continually announced new partnerships and deal to acquire cars for their expected ride-hailing platform, teamed up with Avis Budget Group as a manager for their autonomous fleet, and began a test program for an autonomous truck service and platform.