Uber Plans Over $10 Billion AV Investment

Uber Technologies Inc. announced plans on Wednesday to invest more than $10 billion in autonomous vehicles and related companies, marking a significant shift from its traditional asset-light model to secure a foothold in the burgeoning robotaxi market. The commitment includes over $2.5 billion in equity stakes in developers and more than $7.5 billion to purchase thousands of robotaxis, with investments tied to partners achieving deployment milestones, according to reports citing sources familiar with the deals.

The strategy aims to integrate self-driving technology into Uber's global ride-hailing platform, reducing reliance on human drivers amid intensifying competition from firms like Alphabet's Waymo and Tesla. Uber, which pioneered the gig economy by connecting riders with independent drivers using personal vehicles, has accelerated partnerships over the past year with more than a dozen providers. These include China's Baidu, U.S.-based Rivian and Lucid, as well as Amazon's Zoox and Nuro. The company positions itself as a marketplace connecting autonomous operators to its vast rider network, offering infrastructure, demand access and fleet integration without developing the...