08:33 AM EDT, 08/29/2024 (MT Newswires) -- Uber Technologies ( UBER ) and Wayve entered a partnership that includes a collaboration with automative OEMs to improve Wayve's self-driving technology, as well as funding from Uber ( UBER ), Wayve said.

Uber ( UBER ) also agreed to invest in Wayve as an extension of the AI technology firm's Series C fundraising. Further financial details of the investment were not shared.

With Uber's ( UBER ) funding, Wayve said it intends to work with OEMs to develop advanced driver assistance and conditional driving automation for consumer vehicles. It also aims to eventually develop fully autonomous driving for future deployment on Uber ( UBER ).

Price: 72.20, Change: +0.35, Percent Change: +0.49