Uber Commits Over $10 Billion to Autonomous Vehicle Investments and Robotaxi Purchases

According to the Financial Times, Uber has poured more than $10 billion into autonomous vehicle technology, comprising $2.5 billion in direct investments and $7.5 billion earmarked for future robotaxi acquisitions. The company's investments feature firms like WeRide, Lucid, Nuro, Rivian, and Wayve. This transition from an asset-light model harks back to the 2015-2018 era of Uber Elevate and Otto. Although Uber sold Uber ATG, Jump, and Elevate in 2020, it maintained equity stakes. Former CEO Travis Kalanick expressed disapproval of the pivot away from autonomous initiatives. In other developments, Slate raised $650 million in Series C funding, Glydways obtained $170 million, and Caterpillar acquired assets from Monarch Tractor. Uber also boosted its investment in Delivery Hero, while Waymo conducted vehicle tests in London, and Rivian formed a partnership with Redwood Materials.