Uber seeks $1 billion for self-driving cars
Uber is gearing up to put more self-driving cars out there and is asking banks and private investors for funding to make it happen.
Right now, Uber uses Waymo's robotaxis in Austin and Atlanta, but it signed a $300 million deal to roll out over 20,000 new vehicles using tech from Lucid and Nuro over six years.
Uber's robotaxi push could reshape its business model
By investing just a slice of its $7 billion annual cash flow—and possibly selling some minority stakes—Uber hopes to speed up its robotaxi expansion.
CEO Dara Khosrowshahi has pitched three ways this could work: paying partners a set fee for vehicles, splitting revenue with fleet operators, or owning the self-driving cars themselves.
If all goes well, analysts think robotaxis could help Uber cut costs big time and rely less on human drivers—even as rivals like Tesla jump into the game.