08:36 AM EDT, 03/19/2026 (MT Newswires) -- Uber Technologies ( UBER ) is investing up to $1.25 billion in Rivian Automotive ( RIVN ) through 2031, subject to certain performance milestones, to support the development of a fleet of Rivian R2 robotaxis that will be exclusive on the Uber ( UBER ) platform, the companies said Thursday.

Uber ( UBER ) has committed to an initial $300 million investment, subject to regulatory approval, the companies said.

Uber ( UBER ) plans to purchase 10,000 fully autonomous R2 robotaxis, with an option to purchase up to 40,000 more in 2030. Initial deployments of the units are planned for San Francisco and Miami in 2028, reaching 25 cities by 2031, the companies added.