Uber invests $1.25B in Rivian for 50,000 robotaxis

Uber Technologies and Rivian Automotive announced a concern to deploy up to 50,000 afloat autonomous robotaxis, with Uber committing up to $1.25 cardinal successful Rivian done 2031, taxable to the accomplishment of definite milestones by circumstantial dates, the companies said.

Under the agreement, Uber oregon its fleet partners volition acquisition 10,000 autonomous versions of Rivian's R2 electrical conveyance successful the archetypal deployment phase, with the enactment to bargain up to 40,000 much opening successful 2030. An archetypal $300 cardinal concern is committed pursuing the deal's signing, pending regulatory approval.

The R2 robotaxis volition beryllium disposable exclusively connected the Uber platform. Initial commercialized deployments are planned for San Francisco and Miami successful 2028, with enlargement to 25 cities crossed the U.S., Canada, and Europe by the extremity of 2031.

"We're large believers successful Rivian's approach," Uber CEO Dara Khosrowshahi said successful a statement, citing Rivian's integrated power implicit conveyance design, compute platform, software, and U.S.-based manufacturing arsenic grounds for assurance successful the deal's targets.

Rivian CEO RJ Scaringe said successful a connection the concern would accelerate the company's way to level 4 autonomy, pointing to its information flywheel and in-house RAP1 inference level arsenic drivers of near-term progress.

Rivian announced its third-generation autonomy level successful December 2025. The strategy includes 11 cameras, 5 radars, and 1 LiDAR, powered by 2 RAP1 chips susceptible of 1,600 TOPS of AI compute, and is expected to motorboat successful the R2 aboriginal successful 2026.

Rivian's banal jumped astir 10% up of the unfastened aft the announcement, portion Uber's traded adjacent flat, according to CNBC. For Rivian, the woody adds to a financing streak that included a $5.8 cardinal bundle statement with Volkswagen finalized successful precocious 2024, according to CNBC. For Uber, the woody extends a drawstring of autonomous conveyance agreements that besides includes partnerships with Amazon's Zoox, Lucid, Stellantis, and Nvidia, according to CNBC.