Uber's Bold Move: Massive Investment in Rivian's Robotaxi Fleet

Uber announced a monumental investment of up to USD 1.25 billion in Rivian Automotive to support the launch of up to 50,000 robotaxis.

Initially, Uber or its fleet partners will purchase 10,000 fully autonomous Rivian R2 robotaxis, with an option for 40,000 more by 2030.

The initial deployment of these vehicles is scheduled for 2028 in San Francisco and Miami, aiming to broaden their reach to 25 cities by 2031. This deal, hinging on specific autonomous achievements, forges a commitment of an initial USD 300 million after regulatory consent. Rivian's stock surged 10% following the announcement, while Uber's shares marginally increased.