Uber leaves the Gig Economy: bets 10 billion on robotaxis
The technology company has plans to launch robotaxi services in at least 28 US cities by 2028
Key points
According to a report in the Financial Times this morning, Uber has invested over$10 billion in the purchase of thousands of self-driving vehicles and the acquisition of stakes in the companies that develop them, abandoning its low-capital 'gig economy' business model to avoid competition from robotaxis.
Reuters was not immediately able to verify the news. Uber did not immediately respond to a request for comment from Reuters.
The 2028 target
Uber is positioning itself as a marketplace for several robotaxi operators and has partnered with much of the autonomous vehicle industry, including Baidu, Rivian and Lucid, and has outlined plans to launch robotaxi services in at least 28 cities by 2028.
The Investment Plan
These deals put Uber on track to invest more than $2.5 billion in equity investments and spend more than$7.5 billion on robotaxi fleets over the next few years, the Financial Times reported, citing its own calculations based on estimates from analysts and sources close to Uber's deals. The deals are conditional on the partners reaching certain implementation milestones.
Interest in driverless taxis has soared in recent months after years of broken promises, with artificial intelligence and technology partnerships offering the hope of solving complex traffic scenarios more quickly and mitigating high costs.
