Amazon's Driverless Electric Vehicle Is Coming

Earlier this year, Amazon (NASDAQ: AMZN) purchased Zoox, a six-year old start-up seeking to create autonomous driving vehicles from the ground up. It reportedly paid  over $1.2 billion in the deal, making it one of Amazon's largest ever acquisitions.

On Monday, the company revealed the Zoox vehicle and its plans for the fully autonomous electric vehicle. Amazon is planning to compete with Uber Technologies (NYSE: UBER) and Lyft (NASDAQ: LYFT) using the Zoox electric vehicle (EV) as a driverless robotaxi, according to a Bloomberg report.

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Source Fool.com