Uber to spend more than $10B on 120,000 robotaxis
Business
Uber is going big on self-driving tech, putting more than $10 billion into launching 120,000 autonomous vehicles over the coming years.
The rollout will start in at least 15 cities and is Uber's bold move to outpace rivals like Waymo and Tesla in the robotaxi race.
Uber posts $2.8B free cash flow
Uber's record $2.8 billion in free cash flow in the second quarter and revenue reached $14.2 billion are fueling this push.
CEO Dara Khosrowshahi says they're aiming for "the world's largest platform for autonomous vehicles."
At first, these robotaxis will run with safety supervisors in select areas, but as the tech gets better, some routes may need fewer human drivers, though Uber says this shift will be gradual, not overnight.