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Uber Invests $1.25 Billion in Rivian for 10,000 Robotaxis

3/20/2026

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Summary

Story summary

Uber Technologies, Inc. announced a $1.25 billion investment in Rivian Automotive, Inc. to deploy 10,000 autonomous R2 robotaxis starting in San Francisco and Miami in 2028.
The deal includes an initial $300 million investment, with funding contingent on Rivian meeting performance milestones.
The partnership aims to expand Uber's robotaxi fleet across 25 cities by 2031.
Rivian Automotive, Inc.'s stock rose about 10% following the announcement, signaling positive market reception.

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Story summary

Uber Technologies, Inc. announced a $1.25 billion investment in Rivian Automotive, Inc. to deploy 10,000 autonomous R2 robotaxis starting in San Francisco and Miami in 2028.
The deal includes an initial $300 million investment, with funding contingent on Rivian meeting performance milestones.
The partnership aims to expand Uber's robotaxi fleet across 25 cities by 2031.
Rivian Automotive, Inc.'s stock rose about 10% following the announcement, signaling positive market reception.