Uber (UBER) to invest up to USD 1.25bln in Rivian (RIVN) through 2031, subject to achievement of autonomous performance milestones; Rivian R2 robotaxis to be exclusive to Uber in 25 cities

Uber's substantial investment in Rivian to deploy robotaxis reflects a strategic push into autonomous transportation, with exclusivity in key cities likely enhancing Uber's competitive position. This partnership could spark further consolidation in the sector and set a precedent for tech-driven transport solutions, impacting both shares and broader market sentiment towards mobility companies.