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    OCDO   GB00B3MBS747

OCADO GROUP PLC

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Ocado Invests GBP10 Million in Self-Driving Startup Wayve for Autonomous Grocery Deliveries

10/06/2021 | 05:02am EST

By Joe Hoppe

Self-driving technology startup Wayve said Wednesday that it has secured a 10 million-pound ($13.6 million) investment from online grocer Ocado Group PLC in a partnership that will develop autonomous grocery deliveries in urban environments.

Wayve said its technology will allow self-driving delivery cars to adapt to new, unstructured and highly-complex environments, without the need for pre-programming, human-designed rules or high-definition mapping.

The partnership will include an autonomous delivery trial, fitting Wayve's technology onto a selection of Ocado delivery vans and trialed on urban delivery routes for a year.

The trial will help test the technology's ability to navigate congested streets and perform the challenging maneuvers that home delivery systems will need to employ.

Ocado's chief of advanced technology Alex Harvey said the company is determined to develop autonomous mobility systems to improve the economics of its Ocado Smart Platform.

"We've been impressed with Wayve's approach to solving this most complex of challenges and are excited to accelerate our capabilities so that our retail partners globally can take advantage of them at the earliest opportunity," Mr. Harvey said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

10-06-21 0702ET

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Financials
Sales 2021 2 633 M 3 484 M 3 484 M
Net income 2021 -213 M -281 M -281 M
Net Debt 2021 331 M 438 M 438 M
P/E ratio 2021 -57,2x
Yield 2021 -
Capitalization 12 053 M 15 937 M 15 947 M
EV / Sales 2021 4,70x
EV / Sales 2022 4,14x
Nbr of Employees 18 618
Free-Float 64,0%
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 1 626,50 GBX
Average target price 2 118,18 GBX
Spread / Average Target 30,2%
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Managers and Directors
Timothy Steiner Chief Executive Officer & Executive Director
Stephen Wayne Daintith Chief Financial Officer & Executive Director
Richard Neil Haythornthwaite Independent Non-Executive Chairman
Mark Richardson Chief Operations Officer & Executive Director
J÷rn Rausing Independent Non-Executive Director
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