Amazon has signed an agreement to acquire Zoox, a California-based company working to design autonomous ride-hailing vehicles from the ground up. Financial terms of the deal were not disclosed, but is reportedly over $1.2 billion. Completion of this transaction is subject to customary closing conditions.

Aicha Evans, Zoox CEO, and Jesse Levinson, Zoox co-founder and CTO, will continue to lead the team, says Amazon.

Zoox started in 2014 and aims to purpose-built zero-emissions vehicles designed for autonomous ride-hailing, along with an end-to-end autonomy software stack, says Amazon.

Read the blog post from Amazon on the acquisition here.

[Image courtesy: Zoox]