Aurora secures $820 million in funding to commercially launch its autonomous tech and beyond
Autonomous technology developer Aurora says it now has enough money to commercially launch its holistic system of self-driving products next year, thanks to a fresh round of public and private funding totaling $820 million. Following the news, Aurora CEO Chris Urmson posted a blog detailing why Wall Street believes in the company and how it intends to use that cash to deliver.
Aurora is an autonomous vehicle and adjacent technology company we have watched evolve over the years with a lot of excitement. Several notable automakers have invested and collaborated with the company over that span, including the likes of Toyota, Peterbilt, and Uber Freight.
In 2019, Aurora acquired LiDAR company called Blackmore, enabling it to begin developing a sensing suite finally capable of safely operating large trucks autonomously at high speeds. Since 2020, Aurora has been deploying Class 8 trucks integrated with its Aurora Driver technology containing the proprietary LiDAR. This led to a reunion with former partner Volvo, who has integrated the Aurora driver into its own trucks.
Last we spoke of Aurora, it was demonstrating the capabilities of its Driver technology, including how safe and intuitive it is, even in inclement weather conditions.
As the company looks to launch self-driving trucks as a service called “Aurora Horizon” in 2024, it has now secured the massive funding needed to get it there… and beyond.
Aurora funded through 2025 to develop autonomous tech
After an upsized public offering of common stock earlier this week, Aurora Tweeted that its public and private equity funding round successfully garnered $820 million. The company shared a coinciding blog post written by CEO Chris Urmson, who was able to share more details regarding the capital raise. Per the post:
We are fortunate to have incredible partners in the capital markets. Throughout Aurora’s history and in this most recent fundraise, we have had incredibly strong support from top-tier institutional investors, both existing and new, as well as strategic partners. The backing of these investors is a testament to our progress and potential.
We’re all living through an uncertain time in the financial markets. Despite some thaw, investors continue to be very cautious with their clients’ money, wanting an extra degree of conviction to make a big bet. It’s part of why we’re proud to be able to raise the better part of a billion dollars to continue our mission. Investors see what we see – an incredible and unique opportunity to do something important and valuable in the world.
From where I sit, there are several things that make Aurora special and I suspect these are some of the things that have resonated with our investors.
Urmson cites a relentless focus on the company mission, depth and breadth of talent, and a series of strategic business decisions and investments as the reason for Aurora’s growth to date as well as potential evidence why investors may not be as weary to open their wallets in a nascent but indefinite segment in autonomous driving.
Last year, Aurora shared the roadmap seen above, detailing each milestone it’s planning to ensure it can deliver safe autonomous technology to market efficiently and has so far hit every target. Urmson relayed that the fresh funding gives the company plenty of runway to reach its planned commercial launch of Aurora Driver next year and well into 2025. Per the CEO:
We hit our most significant benchmark – Feature Complete – at the end of Q1 2023 and are now charging toward our Aurora Driver Ready milestone at the end of this year. When we achieve Aurora Driver Ready, we’ll have confidence that the Aurora Driver could safely haul freight between Dallas and Houston without a human behind the wheel, setting us up for our commercial launch next year.
Sharing a transparent, concrete timeline and executing against it, builds our confidence internally, and with our investors and other stakeholders.
This is definitely a company to watch, so trust that we will keep you in the loop as it continues to check off milestones on its (driverless) roadmap.
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First Solar just cut the ribbon on a huge new factory in Iberia Parish, Louisiana, and it dwarfs the New Orleans Superdome. The company’s $1.1 billion, fully vertically integrated facility spans 2.4 million square feet, or about 11 times the size of the stadium’s main arena.
The factory began production quietly in July, a few months ahead of schedule, and employs more than 700 people. First Solar expects that number to hit 826 by the end of the year. Once it’s fully online, the site will add 3.5 GW of annual manufacturing capacity. That brings the company’s total US footprint to 14 GW in 2026 and 17.7 GW in 2027, when its newly announced South Carolina plant is anticipated to come online.
The Louisiana plant produces First Solar’s Series 7 modules using US-made materials — glass from Illinois and Ohio, and steel from Mississippi, which is fabricated into backrails in Louisiana.
The new factory leans heavily on AI, from computer vision that spots defects on the line to deep learning tools that help technicians make real‑time adjustments.
Louisiana Governor Jeff Landry says the investment is already a win for the region, bringing in “hundreds of good-paying jobs and new opportunities for Louisiana workers and businesses.” A new economic impact analysis from the University of Louisiana at Lafayette projects that the factory will boost Iberia Parish’s GDP by 4.4% in its first full year at capacity. The average manufacturing compensation package comes in at around $90,000, more than triple the parish’s per capita income.
First Solar CEO Mark Widmar framed the new facility as a major step for US clean energy manufacturing: “By competitively producing energy technology in America with American materials, while creating American jobs, we’re demonstrating that US reindustrialization isn’t just a thesis, it’s an operating reality.”
This site joins what’s already the largest solar manufacturing and R&D footprint in the Western Hemisphere: three factories in Ohio, one in Alabama, and R&D centers in Ohio and California. Just last week, First Solar announced a new production line in Gaffney, South Carolina, to onshore more Series 6 module work. By the end of 2026, the company expects to directly employ more than 5,500 people across the US.
Read more: First Solar pours $330M into a new South Carolina solar factory
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No, it’s not the new Bolt. GM’s design team previewed a new high-riding “sporty Chevrolet EV” that should be brought to life.
Is Chevy launching a new sporty EV?
This is the all-electric vehicle Chevy should sell in the US. General Motors’ design team released a series of sketches previewing a sporty new Chevy EV.
Although it kinda looks like the new 2027 Chevy Bolt EV as a higher-sitting compact crossover SUV, the design offers a fresh take on what it should have looked like.
The new Bolt is essentially a modernized version of the outgoing EUV model with a similar compact crossover silhouette. Nissan adopted a similar style with the new 2026 LEAF as buyers continue shifting from smaller sedans and hatchbacks to crossovers and SUVs.
Will we see the sporty Chevy EV in real life? It’s not likely. For one, the “exploration sketch” is by GM China Advanced designer Charles Huang.
GM Design posted the sketches on its global social media page, but the caption read “Sporty Chevrolet EV for the China Market.”
It’s too bad. The Bolt could use a sporty sibling like an SS variant. Chevy introduced the Blazer EV SS (check out our review) for the 2026 model year, its fastest “SS” model yet. Packing up to 615 horsepower and 650 lb-ft of torque, the Chevy Blazer SS can race from 0 to 60 mph in 3.4 seconds when using Wide Open Watts (WOW) mode.
Will the Bolt be next? I wouldn’t get my hopes up. And if GM does bring the sporty Chevy EV to life, it will likely only be sold in China. Like all the fun cars these days.
What do you think of the design? Would you buy one of these in the US? Let us know your thoughts in the comments.
While deliveries of the 2027 Bolt are set to begin in early 2026, Chevy is offering some sweet deals on its current EV lineup, including up to $4,000 off in Customer Cash and 0% APR financing for 60 months.
Ready to test drive one? You can use our links below to find Chevy Equinox, Blazer, and Silverado EVs at a dealership near you.
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Environment
Podcast: Electricity is the base currency, Tesla Robotaxi crashes, new Porsche Cayenne EV, and more
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss electricity becoming the base currency, Tesla Robotaxi crashes, the new Porsche Cayenne EV, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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