Uber to invest up to $1.25 billion in EV maker Rivian in deal to launch 50,000 robotaxis

Uber Technologies plans to invest up to $1.25 billion in electric vehicle maker Rivian Automotive as part of a deal to deploy up to 50,000 robotaxis in several countries through 2031, the companies announced Thursday.

The tie-up includes expectations for Uber, or its fleet partners, to purchase 10,000 autonomous versions of Rivian’s upcoming R2 electric vehicle, with the option to buy up to 40,000 more robotaxis beginning in 2030, according to a release from the companies.

The deal is the latest in a resurgence of announcements about autonomous vehicles and robotaxis, as companies attempt to capitalize on what investors have forecast as a multitrillion-dollar market. Many companies, including Uber, have previously failed to hit their targets when it comes to robotaxis.

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