Uber plans to invest up to $1.25 billion in Rivian to help deploy 10,000 autonomous robotaxis, the two companies announced March 19.
An initial $300 million has been committed to the endeavor, with the remaining $950 million of potential investments dependent on “certain autonomous milestones” that weren’t explicitly disclosed.
“[This partnership] will help accelerate our path to level 4 autonomy to create one of the safest and most convenient autonomous platforms in the world,” Rivian founder and CEO RJ Scaringe said. “The scale of Rivian’s growing data flywheel coupled with RAP1, our state of the art in-house inference platform, and our multi-modal perception platform make us incredibly excited for the rapid advancement of Rivian autonomy over the next couple of years.”…