Aurora Innovation said Wednesday it will have enough money to continue to develop its autonomous vehicle technology until mid-2024 just ahead of its commercial launch — an effort to assuage shareholders amid a tightening capital market and a week after competitor Argo AI suddenly shut down.
The company said it closed the third quarter with about $1.2 billion in cash and short-term investments — enough sustain operations until mid-2024. The company plans to launch commercial self-driving truck operation in late 2024.
Wall Street responded favorably to Aurora’s attempts to calm investors. The company’s stock was up 5.85% after market close.
The statements come at time of shifting priorities and economi …
