Uber has struck a deal to invest up to $1.25 billion in Rivian, the loss-making electric vehicle maker, in exchange for a fleet of up to 50,000 autonomous robotaxis to be deployed across multiple markets through 2031.
The vehicles will be based on Rivian's R2 platform and rolled out across 25 US cities, starting with San Francisco and Miami, before expanding to Canada and Europe, according to the companies. The Wall Street Journal first reported the geographic scope of the agreement.
For Uber, the deal deepens its push into autonomous ride-hailing without building its own self-driving technology. The company has pursued a platform strategy, partnering with third-party autonomous vehicle developers rather than owning the stack outright — a model that contrasts with Waymo, Alphabet's robotaxi unit, which controls its own hardware and software.
For Rivian, the agreement provides a committed commercial customer and a significant capital injection at a time when the company continues to burn cash. Rivian has never posted an annual profit and has been managing costs carefully following production challenges at its Normal, Illinois plant. A $1.25 billion strategic investment from a major platform partner materially changes its near-term funding picture.
Rivian shares surged approximately 8% following the announcement, reflecting investor relief as much as enthusiasm for the robotaxi opportunity itself.
The deal adds Rivian to a growing roster of Uber's autonomous partners and signals that the broader robotaxi race is moving beyond the handful of well-capitalised incumbents. Whether 50,000 vehicles across 25 cities by 2031 is achievable will depend on regulatory approvals, technology readiness, and Rivian's ability to scale R2 production — none of which are straightforward.
