Uber to invest up to $1.25 billion in Rivian to support rollout of 50,000 robotaxis

Uber plans to invest up to $1.25 billion in Rivian to support deployment of as many as 50,000 Rivian R2 robotaxis through 2031, with an initial $300 million tranche expected subject to regulatory approval.

Uber Technologies announced a plan to invest up to $1.25 billion in Rivian Automotive under a deal intended to support a large-scale rollout of autonomous Rivian R2 vehicles. The companies said the arrangement aims to deploy up to 50,000 robotaxis across multiple countries by 2031. An initial $300 million investment is expected after the deal is signed, pending regulatory approval. The R2 robotaxis are described as planned to be available exclusively through Uber's platform in 25 cities across the U.S., Canada and Europe, with San Francisco and Miami named as the first cities in 2028. Key details: - Uber plans to invest up to $1.25 billion in Rivian to deploy up to 50,000 robotaxis through 2031. - An initial $300 million tranche is expected following the deal's signing, subject to regulatory approval. - The agreement foresees Uber or its fleet partners buying 10,000 autonomous R2 vehicles, with an option for up to 40,000 more beginning in 2030. - R2 robotaxis are expected to be offered exclusively on Uber in 25 cities across the U.S., Canada and Europe; San Francisco and Miami are planned first in 2028. - Further investment tranches are tied to meeting milestones through 2031; those milestone dates were not specified. Summary: The deal connects a major ride-hailing company with an electric vehicle maker to underpin a planned robotaxi rollout and ties future funding to milestone progress. The immediate next step is regulatory approval for the initial $300 million investment. Further funding and vehicle deliveries are conditional on milestone reviews through 2031.