Uber Invests in Rivian for Robotaxi Deployment

Uber announced an investment of up to $1.25 billion in electric vehicle maker Rivian, forming a major partnership to deploy 10,000 fully autonomous Rivian R2 SUVs as robotaxis starting in 2028. The deal includes an initial $300 million investment, with the remaining funds contingent on Rivian meeting specific autonomous driving milestones through 2031. If successful, thousands of unsupervised Rivian R2 robotaxis are planned for deployment across 25 cities in the United States, Canada, and Europe by the end of 2031, exclusively on Uber's platform. Uber also has an option to purchase an additional 40,000 R2 robotaxis from 2030. This move positions Uber as a central marketplace for multiple robotaxi operators, expanding its existing collaborations with companies like Alphabet===Waymo, Baidu, Lucid Motors, and Nvidia. Rivian, which recently unveiled its self-driving chip and is preparing to launch its R2 SUVs, saw its shares rise following the announcement, indicating strong market approval for this strategic alliance.