Uber Invests Billions in Autonomous Vehicle Assets

Uber is significantly increasing its investment in autonomous vehicle technology, committing over $10 billion to acquire robotaxis and take equity stakes in developing companies. This marks a shift towards an asset-heavy strategy, focusing on owning physical assets rather than solely developing technology in-house. The company previously engaged in similar asset-heavy ventures between 2015 and 2018, including launching Uber Elevate and Uber ATG, before divesting most of those operations. This new approach, however, involves purchasing fleets of robotaxis from other manufacturers, potentially reshaping Uber's balance sheet and advancing its long-term autonomous driving goals.