Rivian & Uber's Robotaxi Partnership: A New Era

0:00Rivian and Uber just announced a big partnership to bring Robel Taxes to the road. Uber will invest up to $1,250,000 in Rivian and add as many as 50,000 fully driverless R2 vehicles to its app. The rollout starts in 2028 in San Francisco and Miami with plans to hit 25 cities across North America and Europe by 20. 31. This deal lands right after Rivian's latest earnings report showed some progress but plenty of red ink. The company posted a narrower adjusted loss of 54 cents per share and revenue of $1.29 billion, both beating, expectations. Still, automotive losses hit $4.32 million and Rivian now expects bigger adjusted EBITDA shortfalls next year due to heavy. Spending on self-driving tech, investors have been worried about both companies' past to profits amid slower growth, putting shares under pressure lately. For Rivian, this gives a solid customer for its

1:01autonomous vehicles and fresh cash from a strong partner. Analysts at Morgan Stanley call it a win that backs Rivian's tech and boosts Uber's role as a hub for various self-driving fleets. Uber's already teaming up with players like Amazon's Zooox and Nvidia, avoiding the risks of owning vehicles itself. Looking ahead, this could unlock real growth if robot taxes take off, shifting how we see ride-sharing and electric vehicles in the years to come. From your city, powered by AI, this is Durham News Today. I'm Corey with The Story.