Uber Technologies Inc. (NYSE:UBER) has reportedly committed over nearly $10 billion in investments to develop and bolster its Robotaxi strategy as the self-driving sector gathers steam.
Fleet Size, Stake In Companies
The ride-hailing giant will enhance its Robotaxi prowess by investing in Robotaxi companies and by increasing its fleet size by buying thousands of Robotaxis, according to a Financial Times report on Wednesday. Uber will commit over $2.5 billion in investments to acquire equity stakes in Robotaxi companies.
It will also allocate over $7.5 billion to increase its fleet size in the next few years, the report said, citing anonymous sources familiar with the matter. However, the investments into companies are tied to them hitting pre-determined deployment milestones, the report said.
Uber didn’t immediately respond to Benzinga‘s request for comment.
Uber’s Robotaxi Exploits
Uber recently announced an expansion of its partnership with Lucid Group Inc.
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