Uber Bets Big on Robotaxis: $10B Investment

Uber is making a significant commitment to autonomous vehicle technology, with estimates placing its investment at over $10 billion. This figure includes approximately $2.5 billion in direct equity stakes and investments in various AV developers, alongside a projected $7.5 billion for the purchase of robotaxis in the upcoming years. This move represents a new phase for Uber, leaning towards owning physical assets rather than solely focusing on in-house development, a departure from its earlier asset-light model.

Previously, Uber invested heavily in internal projects like Uber Elevate and Uber ATG between 2015 and 2018, acquiring companies like Otto and Jump. However, in 2020, Uber divested these units to companies such as Aurora, Joby Aviation, and Lime, while retaining equity. The current strategy appears to focus on fleet ownership, potentially through leasing or purchasing vehicles from external developers. This approach could reshape Uber's balance sheet and its future operational landscape, potentially aligning with the vision of former CEO Travis Kalanick.

Several other ventures are also securing significant capital. Slate, an electric pickup truck startup backed by Jeff Bezos, raised $650 million in a Series C round, bringing its total funding to about $1.4 billion. Glydways, a San Francisco-based company developing personal autonomous pods for dedicated lanes, secured $170 million in a Series C funding round. Additionally, GM and Ford are reportedly in discussions with the Pentagon regarding defense procurement programs. Loop also raised $95 million in a Series C funding round.

In other developments, Monarch Tractor, which developed electric, autonomous tractors, had its assets acquired by Caterpillar. Uber is also increasing its stake in Delivery Hero by 4.5%, acquiring approximately 270 million euros in shares. Doug Field, a key executive in Ford's EV strategy, is departing the company. Lightship, an electric RV startup, is expanding its manufacturing capacity by 44,000 square feet. Rivian and Redwood Materials are collaborating on battery recycling, with Redwood installing second-life battery packs for energy storage at Rivian's Illinois factory. Tesla has launched a new self-driving app for owner subscriptions and usage statistics. Finally, Waymo has begun testing its autonomous vehicles on public roads in London and has removed waitlists in Miami and Orlando to scale its services.