Uber to invest $1.25 billion in Rivian as part of new robotaxi deal

"Uber and Rivian are joining forces to deploy 50,000 fully autonomous robotaxis over the next several decades, the companies announced Thursday. As part of the deal, Uber will invest $1.25 billion in Rivian through 2031, contingent on Rivian meeting certain autonomy milestones, starting with an initial $300 million at signing."

"Rivian and Uber said the first phase of their partnership will involve deploying 10,000 autonomous R2 vehicles as robotaxis in several cities, starting with San Francisco and Miami in 2028. The companies said they expect to expand to 25 additional cities by 2031. Rivian's autonomous robotaxi fleet will be available exclusively on Uber's app."

"The news signals a big vote of confidence in Rivian's nascent autonomy efforts, which include designing its own custom AI chips to power Level 4 autonomous vehicles. Uber, meanwhile, has been on something of a robotaxi partnering spree, corralling a variety of companies from all parts of the globe while promising access to its hundreds of millions of customers."

Uber and Rivian announced a partnership to deploy 50,000 fully autonomous robotaxis over the coming decades. Uber will invest $1.25 billion in Rivian through 2031, with an initial $300 million investment at signing, contingent on Rivian meeting autonomy milestones. The first phase involves deploying 10,000 autonomous R2 vehicles as robotaxis, launching in San Francisco and Miami in 2028, with expansion to 25 additional cities by 2031. Rivian's autonomous fleet will operate exclusively through Uber's app. Rivian is developing custom AI chips to power Level 4 autonomous vehicles. This partnership reflects Uber's broader robotaxi strategy of partnering with multiple companies globally to leverage its customer base.

Read at The Verge