11:43 AM EDT, 03/19/2026 (MT Newswires) -- Rivian Automotive's ( RIVN ) new partnership with Uber Technologies ( UBER ) should strengthen demand visibility for its upcoming R2 platform and support its autonomous vehicle strategy, Wedbush Securities said in a Thursday note.

The companies plan to deploy an initial fleet of 10,000 fully autonomous R2 robotaxis operating exclusively on Uber's ( UBER ) platform, with launches expected to begin in San Francisco and Miami in 2028 and expand to 25 cities by 2031,

according to the report.

Under the deal, Uber ( UBER ) plans to invest up to $1.25 billion in Rivian through 2031 tied to autonomous development milestones, including an initial $300 million investment at signing, subject to regulatory approval. The companies also retain an option for Uber ( UBER ) to purchase up to 40,000 additional autonomous R2 vehicles starting in 2030.

Wedbush said the stronger push into autonomy could push Rivian's target for adjusted earnings before interest, taxes, depreciation, and amortization profitability beyond 2027, as the company increases R&D spending to accelerate its autonomous roadmap.

The firm maintained its outperform rating on the stock with a price target of $25.

Rivian shares were up 2.6%, while Uber ( UBER ) was 1.6% lower in Thursday trading.

Price: 15.94, Change: +0.41, Percent Change: +2.64