Partnership Announcement
Rivian and Uber on Thursday announced a partnership worth up to $1.25 billion to accelerate plans for autonomous vehicles and deploy up to 50,000 fully autonomous robotaxis in coming years. Under the agreement, Uber will invest up to $1.25 billion in Rivian through 2031, subject to achieving autonomous performance milestones by specific dates. An initial $300 million investment follows the deal signing, pending regulatory approval.
Robotaxi Purchases and Exclusivity
Uber plans to purchase, directly or through fleet partners, 10,000 fully autonomous Rivian R2 robotaxis, with the option to buy up to 40,000 more in 2030. Rivian's autonomous fleet of R2 robotaxis will be available exclusively through the Uber platform.
Deployment Timeline
- Initial rollout in San Francisco and Miami in 2028.
- Expansion to more than two dozen cities by 2031.
- Thousands of unsupervised robotaxis across 25 cities in the U.S., Canada, and Europe by end of 2031 if milestones met.
We couldn't be more excited about this partnership with Uber – it will help accelerate our path to level 4 autonomy to create one of the safest and most convenient autonomous platforms in the world.
Scaringe added that Rivian's growing data flywheel coupled with RAP1, our state of the art in-house inference platform, and our multi-modal perception platform make us incredibly excited for the rapid advancement of Rivian autonomy over the next couple of years.
Uber CEO Dara Khosrowshahi said that the company is big believers in Rivian's approach – designing the vehicle, compute platform, and software stacks together while maintaining end-to-end control of scaled manufacturing and supply in the U.S.
That vertical integration, combined with data from their growing consumer vehicle base and experience managing the complexities of commercial fleets, gives us conviction to set these ambitious but achievable targets.
Market Reaction
Rivian shares rose 3.8% on Thursday, while Uber stock declined by 1.72% during the day's trading session.
