Investors likely to put $1 billion into Uber’s self-driving unit

Uber Technologies Inc. may see around $1 billion in investment headed its way in the coming months, as a group including SoftBank Group and an unnamed automaker are in late stage talks to invest in the company’s self-driving unit, according to a report from the Wall Street Journal Wednesday.

Raj Rajkumar, co-director of the General Motors-Carnegie Mellon Vehicular Information Technology Collaborative Research Lab, said the likely investment reinforces Pittsburgh’s place as a leader in the autonomous vehicle space.

Rajkumar said Uber spends close to $800 million per year on it’s self-driving tech, and an investment of this size could fund that development for about two years. Yet, Rajkumar said he expects Uber will need more where that money came from to get its products to a place where they would be commercially available.