Uber Technologies said it plans to invest $1.25 billion into Rivian Automotive to launch 50,000 autonomous robotaxis around the world, the company announced.
Uber or its fleet partners will buy 10,000 autonomous versions of the Rivian R2 electric vehicle with the option to buy 40,000 more starting in 2030, a press release said.
Rivian shares rose in premarket trading Thursday by about 10%, CNBC reported, before the stock went back to where it was. Uber’s stock dropped 1%.
The companies will deploy thousands of Rivian R2 robotaxis across 25 cities in the United States, Canada and Europe by the end of 2031.
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