SAN FRANCISCO, March 20, 2026, 11:26 PDT
- Uber is set to pump as much as $1.25 billion into Rivian by 2031, kicking things off with an upfront $300 million stake once the ink is dry and regulators give the nod. 1
- Uber and its fleet partners are set to purchase 10,000 Rivian R2 fully autonomous robotaxis, according to an agreement that also gives them the option to add as many as 40,000 more starting in 2030. 1
- The initial rollout is set for San Francisco and Miami in 2028. If certain goals are achieved, the companies are aiming for deployment in 25 cities by the close of 2031. 1
Uber plans to pour as much as $1.25 billion into Rivian, setting the stage for 10,000 fully autonomous R2 SUVs to join its ride-hailing network in 2028—one of the company’s most ambitious moves yet in the driverless space. These vehicles will be exclusive to Uber. There’s also potential for 40,000 more after 2030, according to the two firms. 1
Rivian’s access to new funding is timely, with the company ramping up investments in self-driving tech. Uber, meanwhile, is still betting it can remain key in the robotaxi world—without actually making vehicles. “Building a self-driving car is only half the battle. Monetizing it is the other,” Deutsche Bank’s Benjamin Black pointed out this week. 2
Initial rollouts will begin in San Francisco and Miami in 2028. According to the companies, if Rivian reaches key autonomy targets, the plan calls for thousands of driverless vehicles—no human backup on board—operating in 25 cities throughout the U.S., Canada, and Europe by the close of 2031. 1
Rivian CEO RJ Scaringe called the partnership a way to “accelerate our path to level 4 autonomy,” referring to vehicles capable of self-driving within set parameters. On Uber’s side, CEO Dara Khosrowshahi said the company is “big believers in Rivian’s approach” that integrates vehicle design, computing, and software. 1
Rivian plans to roll out its third-generation autonomy system in the R2 by late 2026, and that’s the tech powering the robotaxis. The stack pulls together 11 cameras, five radars, and one lidar sensor—a laser tool for measuring distance—plus a pair of RAP1 chips built internally. 1
Competition is heating up in this space. Alphabet’s Waymo operates around 2,500 robotaxis across multiple U.S. cities. Tesla has rolled out a limited robotaxi fleet in Austin, and Uber is deepening its partnerships throughout the autonomous vehicle industry. 2
Initial reaction was positive—Rivian jumped 10% in Thursday’s premarket, AP noted, and Uber barely budged, up less than 1%. But by 11:07 a.m. PDT Friday, the tone had shifted: Rivian slipped roughly 6.4%, and Uber was down 1.6%, per market data. 3
BNP Paribas analyst James Picariello called Rivian’s move to shelve its 2027 adjusted EBITDA goal “widely expected.” As for Uber, Picariello said its upfront cash should handle the extra research costs. That eases the pressure, though autonomy still comes with a hefty price tag. 2
Plenty could still derail the plan. That initial $300 million needs a regulatory green light, and future tranches ride on technical targets that may not pan out. Both companies have already pointed to questions—timing, rollout, even how well the system will work. Delays in software or slow-moving approvals could shrink the launch or push it further out. 1
Uber is betting its users won’t stop using the app—even if more rides are handled by autonomous vehicles instead of people. Rivian stands to gain a big customer and an opportunity to make the R2 the backbone of a commercial fleet, rather than selling it solely as a consumer SUV. 4
