Report says Uber has committed over $10B to robotaxis and AV bets

In short: Uber has committed more than $10 billion to deals tied to self-driving vehicles, including plans to spend billions buying robotaxis, according to reports.

What's going on

TechCrunch reports that the Financial Times reviewed public records and spoke with sources who said Uber has committed more than $10 billion to the autonomous vehicle space. Autonomous vehicles are vehicles that can drive themselves using computers and sensors (like a very advanced driver-assist system that aims to handle the whole trip).

The Financial Times estimate breaks down into about $2.5 billion in direct investments, plus about $7.5 billion that Uber expects to spend buying robotaxis over the next few years. Robotaxis are self-driving cars used as a taxi service, with no human driver behind the wheel.

TechCrunch notes that Uber has made multiple deals and investments in companies working on robotaxis and related technology. Examples mentioned include WeRide, Lucid and Nuro, Rivian, and Wayve.

The shift is notable because Uber previously moved away from building this technology itself. Between 2015 and 2018, Uber ran big internal projects like its self-driving unit, Uber ATG, and other initiatives. In 2020, Uber sold or spun out several of those efforts, but kept ownership stakes in some of the companies involved.

What to watch

If Uber follows through on buying large numbers of robotaxis built by other companies, it could change how the service operates and what riders see in the app. It is similar to a delivery company that used to rely on independent drivers, then starts owning or leasing more of the vans. The key questions are where these robotaxis will launch, how soon, and what safety and local rules will apply in each city.

Source: TechCrunch AI