Apple buys self-driving car startup 'Drive.ai'
Apple Inc. on Tuesday confirmed that it has acquired self-driving shuttle firm Drive.ai. Technology news website The Information reported earlier this month that the iPhone maker was considering acquiring the firm as a move to bring aboard some of its engineering talent to boost Apple's own self-driving efforts. One of hundreds of startups pursuing autonomous vehicles, Drive.ai had been running a small fleet of test shuttles in Texas , Automotive News reported in March . But the startup told California regulators that it plans to lay off 90 people in a permanent closure. The San Francisco Chronicle earlier reported the closure . In Silicon Valley , it is common for larger companies to acquire struggling startups primarily to hire their engineers , a move known in the industry as an "acqui-hire." Apple is vying against rivals such as Google affiliate Waymo to develop self-driving vehicles. In the past year , Apple has revamped...