Uber Technologies (UBER) is launching a new suite of services focused on helping developers of autonomous vehicles plug-in to its ride-hailing network. The move signals an aggressive push to add robotaxis to its platform, as concerns about challenges from Tesla (TSLA) and the Google-backed Waymo have weighed on Uber stock.
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Uber’s overall robotaxi strategy is to partner with AV developers, promising its demand-forecasting app and its more than 200 million regular users can provide a quick payoff to the costs of building self-driving cars. The Uber Autonomous Solutions will offer a “comprehensive suite” of services to robotaxi makers, including AI training data, fleet management, user experience, regulatory support and financing, Uber said Monday.
“Innovation in autonomy is moving quickly, but meaningful commercialization will take much longer,” Uber Chief Executive Dara Khosrowshahi said in a news release. “For more than a decade, Uber has helped set the standard for on-demand mobility and built the capabilities that make ‘push a button and get a ride’ work at global scale. With Uber Autonomous Solutions, we’re externalizing these hard-won competencies for our partners.”
The new venture appears to formalize many of the tenets behind Uber’s overall strategy toward autonomous vehicle technology. Uber’s list of robotaxi partners already includes Waymo, Lucid (LCID), Avride and Baidu’s Apollo Go. Khosrowshahi said earlier this month that Uber expects to be facilitating autonomous trips in 15 cities globally by the end of 2026, evenly split between the U.S. and international cities.
Uber’s robotaxi efforts have focused on industry partnerships since 2020, when the company sold a division dedicated to developing autonomous vehicles. Some investors fear that Uber could struggle with that strategy if the market is ultimately dominated by giants like the Alphabet (GOOGL)-backed Waymo and Tesla (TSLA).
Those concerns have been hard to shake. Uber stock slumped more than 17% in the final three months of last year and is down 10% this year. Shares fell further following Uber’s Q4 results on Feb. 4.
Over the past 18 months, Uber has moved aggressively to strike new partners and has invested directly in robotaxi developers. Uber’s collaboration with Waymo is the most prominent, with the Google-backed robotaxi company offering rides through Uber in Phoenix, Austin, Texas, and Atlanta.
However, Waymo operates through its own app in Los Angeles, San Francisco and Miami, as well as in Phoenix alongside its work with Uber. It has more than 12 cities listed as “up next” on its website.
Another significant partnership for Uber is its work with Lucid and Nuro. The ride-hailing giant last year made “multi-hundred-million dollar investments” in both companies, with plans to launch a service utilizing Lucid’s vehicles and Nuro’s technology. At CES last month, Uber unveiled the look of that robotaxi.
Separately, Uber added human-supervised robotaxis rides from Avride to its app in Dallas late last year. Outside the U.S., Uber is offering driverless rides in Abu Dhabi through a partnership with Chinese company WeRide (WRD). The company is also working with Baidu’s Apollo Go to bring robotaxi to London. The China-based Baidu has a similar partnership with Lyft.
Meanwhile, Uber stock fell 2.9% to 71.72 in morning trade on the stock market today.
The stock enters trading Monday down 28% from a record high 101.99 in late September.
Shares did climb back toward Uber stock’s 21-day moving average with a 5.5% gain last week. But Uber stock has remained below that level, as well as its 50-day moving average and longer-term 200-day line since late January.
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