Uber considers minority investors for self-driving car unit: FT

(Reuters) - Uber Technologies Inc [UBER.UL] is considering selling minority stakes in its costly self-driving car unit as the ride-hailing firm tries to address rising cost pressures ahead of its initial public offering, the Financial times reported on Wednesday.

FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay

Uber received interest from potential investors and could spin off its Advanced Technologies Group into a separate business unit with its own valuation and equity, FT reported, citing people familiar with the matter.

Uber will retain operational control and majority ownership of the unit, but external partners could share the cost of developing and eventually commercializing self-driving technology, the newspaper said.

Uber did not immediately respond to an email seeking comment.

(This story has been refiled to correct to add dropped words ‘did not’ in last paragraph)

Reporting by Rishika Chatterjee in Bengaluru; Editing by Gopakumar Warrier

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