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StocksMediumUpdated•Originally published 20 March 2026•Updated 20 March 2026•

1 min read

Uber and Rivian Ink $1.25 Billion Deal to Develop Robotaxi Technology

Key Facts

1Uber signed a $1.25 billion deal with Rivian to develop robotaxi technologies.

3 months ago

Version History

6 additional sources confirmed this story

Version 13 months ago

What changed: Updated the story to include Rivian's 7% stock decline despite the deal, along with Nio's drop, reflecting investor skepticism toward the EV sector.

Uber has entered into a strategic $1.25 billion partnership with electric vehicle manufacturer Rivian to develop and deploy autonomous robotaxis. The agreement aims to accelerate Uber's transition toward autonomous fleets by leveraging Rivian's advanced AI and EV platform. However, the market reacted negatively as Rivian (RIVN) shares fell 7% to the $15 level in Friday trading despite the announcement. Nio shares also declined by 7%, signaling that the "EV dream" is becoming increasingly difficult to sell to cautious investors. This trend reflects broader skepticism regarding the valuation and immediate profitability of the electric vehicle sector. While the deal is expected to reduce Uber's long-term operational costs, the immediate focus remains on the sector's market volatility.