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’s technology roadmap / Credit: Aurora
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 Readymilestone 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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Steer-by-wire is an automotive concept that has been around for a long time, but hasn’t yet reached mass adoption. The idea is to replace (or supplement) mechanical linkages between the steering wheel and the wheels with electronic actuators instead.
There are a number of potential benefits to this, like allowing more customizability or adaptability to a steering system, reducing mechanical complexity, or adding speed-sensitive variable steering ratios.
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Although there are also disadvantages, like a reduction in steering feel (although, since most cars are moving to electronic power steering, that was already gone anyway).
But few cars have implemented steer-by-wire systems, or at least not fully committed to them, given that mechanical steering racks are a relatively solved problem and the general inertia of the car industry which would rather stick with a solution they know than switch to something better (haven’t we here, at this EV publication, heard *that* one before…). There’s also the matter of regulations, which have often been written to require mechanical steering systems, and may need updating to allow for steer by wire.
But, steer by wire made it into mass production with the release of the Tesla Cybertruck. This was big news when Tesla committed to this – at the time, it was the only thing on the road to exclusively use a steer by wire system, though there are other cars with partial steer by wire (for example, mechanical front wheel steering, and steer by wire rear-wheel steering).
But it seems to have opened the floodgates, as a number of other companies are working on or have since released steer by wire systems (Lexus, for example).
And now, it looks like Rivian is one of those companies – though we don’t know if it’s for the front or rear. (Update: Well, now we know, it looks like they are at the very least developing a rear-wheel steering system, according to another job listing. Though the company might still be working on steer-by-wire for the whole vehicle, too)
So – we know they’re working on steer by wire, to some extent.
But a few other EVs, particularly large EVs like the Rivian R1 platform is, use steer by wire just for the rear wheels – for example the Hummer EV and Rolls-Royce Spectre. These systems are particularly helpful for giant vehicles, because it allows them to be more nimble and make turns that otherwise would require a lot more… negotiation in a giant land yacht.
So it’s possible that Rivian is only working on rear wheel steer by wire here, but we’d like to think there’s a chance it’s working on steer by wire for the full vehicle.
We also don’t know if this would show up on all of Rivian’s vehicles, or only on certain models – the R2 and R3 are in development, with R2 in pretty late stages, and the R1 just got a big refresh. But, perhaps even more interestingly (and very speculatively), VW has invested heavily in Rivian for technology help, so we wonder if we might end up seeing this in VW group vehicles, or Scout vehicles eventually…
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Automakers are scrambling to push their EVs out the door before the $7,500 Federal tax incentive for EVs disappears — and BMW is no different, offering aggressive cash back, owner loyalty, and special financing rates on its just-released 2026 model year EVs.
BMW has a history of offering solid loyalty incentive programs on its EVs in early summer to clear the tail-end of the model year and make room for the incoming builds, but CarsDirect is reporting some unusual loyalty deals from the brand that seem to suggest BMW is keen to capitalize on a spike in EV sales ahead of the Federal tax incentive’s looming cancellation in September.
BMW dealers now have the choice of adding an additional $1,000 loyalty contribution on select 2026 EVs. The i5 and i7 are offered with $1,000 and $4,000 loyalty bonuses, respectively, meaning if you drive a BMW and your dealer opts to tack on the extra bonus, you could save $5,000 on a 2026 i7. These loyalty programs are good when buying or leasing.
There’s also a $1,000 conquest bonus available for drivers of eligible EVs and PHEVs from other brands. This program is stackable with other offers.
Like other EV brands offering huge lease incentives, BMW customers will see the largest rebates on new BMWs when leasing. Now through September 30th, 2026 BMW i5, i7, and iX models are available with a stout $9,900 lease credit, while the bigger BMW XM comes in with a slightly lower, but still substantial $7,500 lease incentive.
Big deals on big BMW i7 sedan
BMW i7, via BMW.
People who prefer to own their vehicles once the payments are up can still score a great deal on an objectively excellent 2026 BMW i7 luxo-cruiser, thanks to the previously mentioned loyalty bonus if they’re previous customers plus a $7,500 Loan Credit that anyone can get when financing their new i7 with the brand’s captive financing company. BMW Bank offers financing rates as low a 3.99% for up to 60 months on the 2026 i5 and i7 sedans, as well as the iX crossover, as well as 4.99% APR 60-month rate on the high-performance XM plug-in hybrid.
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This week, industrial real estate giant Prologis flipped the switch on a rooftop solar project at one of its Franklin Park, Illinois warehouses — the first of 45 such rooftop installations the company plans to deploy in the next two years. Once finished, Prologis’ community solar project will generate up to 82 MW of clean energy!
Co-developed with Illinois utility ComEd and SunVest Solar, the independent power producer, the new rooftop community solar installation in Franklin Park sits atop a 195,000 sq. ft. Prologis logistics center serving a number of local and regional businesses.
Prologis will own and operate the 1.56 MW community solar project, and the energy it generates will serve mostly residential customers, with the minority of the community solar credits created benefiting local businesses.
“We’re proud to join ComEd to officially launch this project, the first of many community solar projects that our energy team is deploying across our Illinois rooftops,” explains Carter Andrus, Prologis’ Chief Operating Officer. “Illinois is one of the fastest-growing solar markets in the country, and we’re excited to help lead its momentum. For us, this is about more than solar panels … it’s about using our scale to make a real difference in the communities where we operate and bring the benefits of clean energy to more people across Illinois.”
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Collaborative effort
ComEd, Prologis, and Sunvest executives; via ComEd.
Prologis is deeply invested in a number of distributer energy resources (DER), including rooftop solar, battery energy storage, and OnDemand Power, a scalable, portable microgrid and power management solution (read: software) designed to provide resilient, backup, and dispatchable energy where and when it is needed across the company’s global portfolio.
With nearly 800 MWs of rooftop solar and energy storage already deployed and 82 more coming from Northern Illinois alone, Prologis is on track to reach its goal of 1 gigawatt by end of 2025. (!)
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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