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Uber to invest up to $1.25 billion in EV maker Rivian in deal to launch 50,000 robotaxis
Uber’s $1.25 billion investment in Rivian includes buying 10,000 autonomous R2 robotaxis with an option for 40,000 more, aiming to deploy in 25 cities by 2031.
- On Thursday, Uber Technologies said it will invest up to $1.25 billion in Rivian Automotive to deploy up to 50,000 robotaxis, committing an initial $300 million at signing subject to regulatory approval.
- Given Uber's strategy to partner widely, it abandoned its own autonomy program in 2020 while Rivian has accelerated autonomy work with RAP1 chips and the R2 mid-size SUV, preparing R2 consumer sales this year.
- The first phase calls for Uber and partners to buy 10,000 Rivian R2 robotaxis initially, with an option for 40,000 more from 2030, deploying first in San Francisco and Miami in 2028 and funding $100 million for charging hubs.
- Rivian shares jumped in premarket trading on Thursday, and the deal gives Rivian a funding lift following its $5.8 billion software agreement with Volkswagen, analysts said.
- Remaining tranches hinge on milestones through 2031, with Uber's investment contingent on autonomous progress amid regulatory risks including the National Highway Traffic Safety Administration probe into a Waymo incident.
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Uber relies heavily on the Robotaxi future and wants to become a platform for wagons of different suppliers. The next developer is a partner of VW.
·Düsseldorf, Germany
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Uber relies heavily on the Robotaxi future and wants to become a platform for wagons of different suppliers. The next developer is a partner of VW.
Uber investing in Irvine-based EV maker Rivian for robotaxi launch
Uber is investing in the Irvine, California-based electric vehicle maker Rivian for a robotaxi launch, according to a Thursday press release. Uber is set to make an investment with a ceiling of $1.25 billion in Rivian over the next five years, according to the release, in the aim of “a scaled, fully-autonomous fleet of Rivian [...]
·Los Angeles, United States
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Coverage Details
Total News Sources53
Leaning Left10Leaning Right4Center20Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 29%
C 59%
12%
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