Uber Pledges Up to $1.25B in Rivian Equity with 10,000 Robotaxi Order
Uber will invest up to $1.25 billion in Rivian equity, with a $300 million upfront payment and additional funding tied to self-driving milestones through 2031. The ride-hailer has ordered 10,000 Rivian R2 robotaxis, with options for 40,000 more, targeting unsupervised service launches in San Francisco and Miami by 2028.
1. Investment Structure and Terms
Uber has agreed to invest up to $1.25 billion in Rivian over a multi-year period, starting with a $300 million upfront equity injection. The remaining $950 million is contingent upon Rivian achieving specified self-driving technology milestones by 2031.
2. Robotaxi Orders and Deployment Timeline
The agreement includes an initial order for 10,000 Rivian R2 robotaxis, with options to purchase 40,000 additional vehicles from 2030 onward. Unsupervised service is slated to launch in San Francisco and Miami in 2028, expanding to 25 cities across North America and Europe by the end of 2031.
3. Strategic Partnerships and Growth Outlook
Uber’s CEO highlighted the vertical integration of Rivian’s vehicle and software development, aiming to enhance autonomous fleet control and safety. This deal complements Uber’s existing robotaxi initiatives, including partnerships with Zoox and prior investments in Lucid and Gravity electric SUVs.