Uber and Rivian Partnership to Deploy 50,000 Autonomous Vehicles
Uber Technologies and Rivian Automotive announced a partnership aimed at deploying up to 50,000 autonomous vehicles by 2031. The initial investment from Uber is set at $300 million, with the potential for a total investment of $1.25 billion, contingent on Rivian meeting specific self-driving milestones.
The program is expected to kick off with Uber purchasing 10,000 fully autonomous Rivian R2 robotaxis, with an option for 40,000 additional vehicles by 2030. Initial commercial deployments are projected to start in San Francisco and Miami in 2028, expanding to 25 cities across the U.S., Canada, and Europe by 2031.
Rivian’s stock saw a premarket increase of approximately 10% following the news, highlighting the partnership’s potential impact amid the company’s ongoing financial challenges, including a fourth-quarter free cash flow of negative $1.1 billion.
