When it comes to diversification, many tech companies like to invest their money into those companies which will give them instant returns, but it seems like Amazon is thinking about long term goals. According to recent reports, Amazon has decided to invest more than $530 million in self-driving car startup called Aurora Innovation. Aurora Innovation is famous for its products in the autonomous driving sector where the company is trying to produce all those necessary pieces of equipment which can be used to drive vehicles automatically. Aurora Innovation is headed by top executives who previously worked at Tesla, Google self-driving departments. Currently, tech companies are trying to invest in those startups which will add more value to their company, and Aurora Innovation will is an excellent investment opportunity for Amazon. Amazon can use the company’s self-driving technology in its transportation system which will save lots of time and cost to the company.
Aurora Innovation is making its name in the tech industry from the last few months because recently Volkswagen and Hyundai have said that they are going to use this company’s self-driving technology in their cars and other vehicles. Many car producing company does not produce all necessary equipment on their own and they simply outsource them from other companies. It seems like Aurora Innovation has got better chances of getting ahead than its competitors. Company’s officials said that they will need more capital in this sector to produce some innovative products and company think they have the right vision about where they’re going. Amazon, on the other hand, is seeing long term benefits of this investment because if Aurora Innovation succeeds in making great products then, in the end, Amazon will have higher chances to use them.