Uber Technologies has launched a fully autonomous ride-hailing service in Atlanta in partnership with Alphabet’s Waymo, expanding from an existing service in Austin, Texas, where around 100 Waymo vehicles are integrated into the Uber platform since March. The Atlanta service covers 65 square miles and only includes all-electric Jaguar I-PACE vehicles. Riders will pay the same rates as other Uber services like UberX.
Uber is also collaborating with NVIDIA to enhance its autonomous driving capabilities, leveraging AI platforms to create efficient models for their autonomous vehicle program. Uber aims to maintain a strong market position in the robotaxi sector, which is projected to grow due to its extensive ride-hailing network. The company reports a run rate of 1.5 million autonomous trips on its platform.
UBER’s stock has increased by 48.9% in the past six months, significantly outpacing a 12.3% decline in its industry. However, the company is currently trading at a forward earnings multiple of 28.63, which is higher than its industry average of 17.8.
