Rivian & Uber's Robotaxi Partnership: A New Era

Rivian 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

autonomous 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.