Rivian will provide 50,000 robotaxis to Uber
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The idea of R2 robotaxis might seem strange, until you consider how serious Rivian is about autonomous driving.
Rivian admitted in a regulatory filing that it is delaying its goal of reaching "positive EBITDA" next year because of how much it is spending on developing self-driving technology.
Shares of Rivian Automotive (RIVN +3.80%) jumped about 10% in premarket trading on Thursday following news of a massive cash injection from ride-hailing giant Uber Technologies (U
Rivian just announced a new partnership with Uber, which will see the latter invest $1.25 billion through 2031 towards the development of fully self-driving vehicles. $300 million has been committed (pending signing),