Uber is pledging a sum of up to $1.25 billion toward electric vehicle manufacturer Rivian in an agreement that envisions the ride-sharing entity commencing deployment of 10,000 completely driverless R2 SUVs as self-driving taxis, commencing in 2028, as per announcements made by both firms on Thursday. Rivian’s stock experienced an increase of approximately 9% during pre-market activity.
Uber, headquartered in San Francisco, will initially invest $300 million, followed by the investment of the remaining funds by 2031, contingent upon Rivian achieving specified progress in the evolution of autonomous technologies.
Enthusiasm for self-driving taxis has notably increased in recent months, following years of unmet anticipations, as progress in artificial intelligence and cooperative technological ventures suggest the potential for swifter solutions to intricate traffic scenarios and the reduction of substantial expenditures.
Even though Rivian, recognized for its high-end R1S SUVs and R1T pickup vehicles, has not yet introduced a self-driving taxi service, the enterprise revealed its proprietary autonomous driving chipset in December and also intends to roll out its more streamlined and economical R2 SUVs this quarter.
In parallel, Waymo (a subsidiary of Alphabet) is currently operating around 2,500 self-driving taxis across numerous American cities and is expediting their broader introduction, whereas Tesla has initiated a limited self-driving taxi service in Austin, Texas, with Elon Musk guaranteeing swift growth during the current year.
The R2 self-driving taxis will be accessible exclusively via the Uber platform, initially launching in San Francisco and Miami. Uber will also retain the prerogative to procure up to an additional 40,000 vehicles beginning in 2030.
“Should all objectives be attained, the organizations will field a multitude of autonomous Rivian R2 self-driving taxis throughout 25 metropolitan areas spanning the United States, Canada, and Europe by the close of 2031,” the report indicates.
Uber is establishing its position as a hub for diverse self-driving taxi operators and is already engaged in partnerships with various entities within the realm of autonomous transportation, including Waymo, Baidu, and Lucid.
Uber is additionally collaborating with Nvidia on technologies for autonomous navigation, employing its AI and simulation resources to create and expand robotaxi infrastructures .
Source: Reuters