Uber Chief Executive Dara Khosrowshahi confirmed on Wednesday that the ride-hailing firm is already on track to launch an initial public offering (IPO) by 2019, at the same time, he clarified that he has no plans to sell its autonomous driving research arm, as of yet.
In a statement given during an interview with Reuters, Uber's big boss said that the carpool service provider has no intention yet of selling its Advanced Technologies Group. This subsidiary is currently working on to develop a self-driving car technology for the company.
An earlier report from Business Insider revealed that investors have been pressing Khosrowshahi and the other members of the board to put the unit up on sale so that the company can focus on its core service as it moves forward towards the realization of its IPO plans.
Khosrowshahi, in his own words, considered Advanced Technologies Group a "big asset" for the company and losing it is one of the last things that they have in mind right now.
Moreover, the CEO reiterated that the company has never been more "optimistic" to see their self-driving cars finally take off to the streets before this year ends.
Uber was previously ordered by the US transport agency to suspend road tests of its autonomous cars following the case of a fatal accident in Arizona this March.
The ride-sharing app has eventually been given the green light to resume its road tests last month but on the condition that the autonomous cars will still have a human operator holding behind the wheel, according to this report.
Stiff Competition
Meanwhile, a conversation with Khosrowshahi and FOX Business' correspondent Susan Li revealed that Uber is not flustered whatsoever with the stiff competition it plays with Lyft.
Like Uber, Lyft is also on the verge of launching its company for public listing, a report from FOX said. This alone makes the market for ride-sharing services get even smaller. But Uber is more than ready to face on the challenge.
In a statement given to the media outlet, Khosrowshahi said that Lyft's impending IPO plans are of no concern of Uber, given the fact that there are still plenty of other competitors out there who are vying to grab a bite on the market. Furthermore, the Uber chief is quite confident that there'd be a lot of firms and investors who will be more than willing to support the company.
