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Uber Bets Big On Robotaxis With $10 Billion Investment Push: Report - Uber Technologies (NYSE:UBER)
Uber plans to back multiple operators and launch robotaxi services in at least 28 cities by 2028, FT reported.
- On Wednesday, the Financial Times reported Uber has committed more than $10 billion to acquire Robotaxis and take stakes in autonomous vehicle developers, breaking from its traditional "gig economy" model.
- Uber is positioning itself as a marketplace for multiple Robotaxi operators, partnering with Baidu, Rivian, and Lucid to launch services in at least 28 cities by 2028.
- The investment allocates over $7.5 billion for Robotaxi fleets and over $2.5 billion in equity stakes, with agreements contingent on partners hitting pre-determined deployment milestones.
- UBER stock surged 0.79% to $72.91 at market close on Tuesday, rising an additional 0.47% during the overnight session.
- Interest in Robotaxis has surged recently, offering hopes of mitigating high costs, while Uber did not immediately respond to requests for comment from Reuters and Benzinga.
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17 Articles
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BN Portfolio: FT: Uber commits $10bn to robotaxis in strategy shift
Key topics:Uber invests $10bn+ in robotaxis and autonomous tech partnershipsShift from asset-light model to owning fleets and equity stakesFaces rising competition from Waymo, Tesla, and ZooxSign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox every morning on weekdays. Register here.Support South Africa's bastion of independent journalism, offeri…
According to the Financial Times this morning, Uber has invested more than $10 billion in the purchase of thousands of self-driving vehicles and the acquisition of holdings in companies that...
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