Amazon.com Inc. (AMZN) has confirmed reports that it is buying self-driving ride-hailing vehicles designer Zoox, although terms of the deal were not disclosed. Media reports had said the deal valued at over $1 billion ( ). Amazon said Zoox Chief Executive Aicha Evans and co-Founder and Chief Technology Officer Jesse Levinson will continue to lead the company as a standalone business. "Zoox is working to imagine, invent, and design a world-class autonomous ride-hailing experience," said Jeff Wilke, CEO of Amazon's Worldwide Consumer business. Amazon's stock gained 0.3% in morning trading, while shares of ride-hailing company Uber Technologies Inc. (UBER) fell 1.8% and Lyft Inc. (LYFT) slipped 0.4%. The S&P 500 was down 0.8%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 26, 2020 10:00 ET (14:00 GMT)
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