Uber is investing up to $1.25 billion in Rivian to add thousands of robotaxis to its fleet

• Rivian is the latest company to strike a robotaxi deal with Uber.
• The ride-hailer has agreed to buy up to 50,000 autonomous R2 EVs and invest up to $1.25 billion in the Tesla rival.
• The robotaxi fleet is set to begin operating in San Francisco and Miami in 2028.

Uber is striking robotaxi deals left and right, and Rivian is the latest automaker to join its roster.

The two companies announced a deal on Thursday that would see Uber buy 10,000 fully autonomous Rivian robotaxis and invest up to $1.25 billion in the Tesla rival over the next five years.

The fleet of autonomous R2 electric robotaxis would enter commercial service in San Francisco and Miami in 2028 before scaling to 25 cities by 2031. The two companies said Uber would have the option to purchase up to 40,000 more Rivian robotaxis from 2030.

This is a developing news story. Check back soon for updates.