Uber to Invest Up to $1.25 Billion in Rivian in Robotaxi Bet (3)

Uber Technologies Inc. plans to invest as much as $1.25 billion in carmaker Rivian Automotive Inc. to help launch a robotaxi fleet that will be available in the US, Canada and Europe over the next five years.

Uber or its fleet partners will buy 10,000 autonomous Rivian R2 robotaxis and make them available exclusively on the Uber app starting in San Francisco and Miami in 2028, the two companies said in a joint statement on Thursday.

As part of the partnership, Uber has committed to an initial $300 million investment in Rivian, subject to regulatory approval. The funding may increase ...