Uber Agrees to Invest up to $1.2 Billion in Rivian and Purchase up to 50,000 R2s
Uber Technologies has agreed to invest up to $1.2 billion in Rivian Automotive through 2031, contingent on the latter meeting certain milestones. The deal also includes Uber or its fleet partners purchasing 10,000 of Rivian's R2 robotaxis initially, with an option for another 40,000 by 2030. These vehicles are expected to launch in Miami and San Francisco in 2028, expanding to 25 cities by 2031. The partnership positions Rivian as a potential leader in the robotaxi market, which is projected to reach $415 billion globally by 2035. Success with Uber could validate Rivian's autonomous vehicle technology and open new revenue streams beyond ride-hailing, such as delivery services. Amazon already has an order for 100,000 electric vans from Rivian. However, Rivian faces significant challenges including substantial net losses in recent years—$3.6 billion in 2025 and $4.7 billion in 2024—and a need to scale production significantly to become profitable.
Topics: autonomous vehicles investment robotaxis strategic partnership