Share and Follow
In a strategic move to expand its autonomous vehicle capabilities, Uber has announced a significant investment in electric vehicle manufacturer Rivian, as detailed in a press release issued on Thursday.
Uber plans to inject up to $1.25 billion into Rivian over the next five years. This financial commitment is part of Uber’s vision to develop a large-scale fleet of Rivian R2 robotaxis, which will operate exclusively on the Uber platform, marking a major step in their autonomous vehicle ambitions.
The initial phase of this project includes a $300 million investment, contingent upon regulatory approvals, underscoring Uber’s proactive approach in navigating the complex landscape of autonomous vehicle regulations.
Uber’s CEO, Dara Khosrowshahi, expressed strong confidence in Rivian’s capabilities, stating, “We are firm believers in Rivian’s holistic approach—integrating vehicle design, computer platforms, and software development while keeping full control over manufacturing and supply chains within the U.S.”
Khosrowshahi highlighted that this approach, coupled with insights from Rivian’s expanding consumer vehicle fleet and their expertise in managing commercial fleets, provides Uber with confidence to pursue these ambitious goals. The collaboration aims to harness the strengths of both companies to make significant advancements in the realm of autonomous transportation.
Last December, Uber began using robotaxis in Dallas. The company said at the time that customers there could access an Avride robotaxi, which it called “a brand-new way to ride with Uber.”
The Uber-Rivian partnership will result in thousands of the Rivian robotaxis driving in 25 European, American and Canadian cities by the end of 2031, according to the release.