Uber to Invest $1.25B in Rivian for Robotaxi Fleet, Targets 50,000 Vehicles

• Uber plans to invest up to $1.25 billion in Rivian Automotive to launch robotaxis.
• The deal includes an initial purchase of 10,000 fully autonomous Rivian R2 robotaxis, with an option for 40,000 more by 2030.
• Initial deployments are set for San Francisco and Miami in 2028, expanding to 25 cities by 2031.
• Uber's investment will be spread until 2031, contingent on Rivian achieving autonomous milestones.
• A $300 million initial investment is committed, pending regulatory approval; Rivian shares rose 10%.