Is Rivian's $1.25 Billion Robotaxi Deal With Uber Really a Good One for Shareholders?
2026-03-24 19:26:00 ET
Big news last week in the realm of robotaxis: Uber Technologies (NYSE: UBER) agreed to invest up to $1.25 billion in electric vehicle (EV) maker Rivian (NASDAQ: RIVN) -- and to purchase thousands of Rivian R2s equipped with self-driving technology.
For Uber, this builds on last year's similar deal with Lucid Group . It confirms that the ride-sharing giant is putting its robotaxi eggs in multiple baskets as it girds for battle with Alphabet 's Waymo and (perhaps, eventually) Tesla .
For Rivian, this deal is a big vote of confidence in its effort to develop a Level 4 autonomous-driving system in-house. It also provides a nice chunk of cash in the near term, just as Rivian is preparing to ramp up production of its midsize R2 model.
NASDAQ: UBER
UBER Trading
0.83% G/L:
$73.16 Last:
5,794,843 Volume:
$73 Open:
