WASHINGTON (dpa-AFX) - Rivian Automotive, Inc. (RIVN) and Uber Technologies, Inc. (UBER) on Thursday announced that Uber will invest up to $1.25 billion in Rivian through 2031 to deploy a fully autonomous fleet of Rivian R2 robotaxis. These vehicles will be available exclusively through the Uber platform.
The company has committed an initial $300 million investment.
Uber is expected to purchase 10,000 fully autonomous R2 robotaxis with an option to purchase up to 40,000 more in 2030.
The partnership aims to deploy 10,000 fully autonomous R2 robotaxis in the first phase of R2 robotaxi deployment. Initial deployments are expected to begin in San Francisco and Miami in 2028.
The companies aim to deploy thousands of unsupervised Rivian R2 robotaxis across 25 cities in the U.S., Canada, and Europe by the end of 2031.
RIVN was up by 8.27% at $16.81 in the pre-market trade on the Nasdaq.
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