MOZCO Mateusz Szymanski/iStock Editorial via Getty Images Uber ( UBER ) has committed over $10B to autonomous vehicles, marking a major shift from its traditional asset-light ride-hailing model as it seeks to stay competitive in the rapidly evolving robotaxi market, the Financial Times reported. Uber has already partnered with key players across the autonomous ecosystem, including Baidu ( BIDU ) ,...
MOZCO Mateusz Szymanski/iStock Editorial via Getty Images Uber ( UBER ) has committed over $10B to autonomous vehicles, marking a major shift from its traditional asset-light ride-hailing model as it seeks to stay competitive in the rapidly evolving robotaxi market, the Financial Times reported. Uber has already partnered with key players across the autonomous ecosystem, including Baidu ( BIDU ) , Rivian ( RIVN ) , and Lucid ( LCID ) , and plans to roll out robotaxi services in at least 28 cities by 2028. The $10B investments cover $2.5B in equity stakes and over $7.5B on robotaxi fleets over the next few years, according to the report that cites analyst estimates and people familiar with Uber’s ( UBER ) deals. The investment reflects growing urgency across the ride-hailing industry as competitors such as Waymo ( WAYMO ) and Tesla ( TSLA ) push forward with driverless services. More on Uber Uber Is Becoming A Demand Layer For Autonomous Vehicles Uber: Why I'm Betting Big What The Market Got Wrong With Uber (Rating Upgrade) Lucid rallies after landing new investments from Uber and the Saudi Arabian sovereign wealth fund Pony.ai, Uber, Verne launch Europe's first commercial robotaxi service in Zagreb
China is set to raise about 15.5 billion yuan (US$2.3 billion) from a sovereign bond sale in Hong Kong next week, the largest such issuance since 2023 as global investors seek refuge in Chinese assets amid the US-Iran conflict. The Ministry of Finance said in a statement on Wednesday it would offer the yuan-denominated bonds – its second offshore issuance this year – on April 22. Further details w...
China is set to raise about 15.5 billion yuan (US$2.3 billion) from a sovereign bond sale in Hong Kong next week, the largest such issuance since 2023 as global investors seek refuge in Chinese assets amid the US-Iran conflict. The Ministry of Finance said in a statement on Wednesday it would offer the yuan-denominated bonds – its second offshore issuance this year – on April 22. Further details will be released through the Hong Kong Monetary Authority’s Central Moneymarkets Unit. The planned...
(RTTNews) - Albertsons Companies, Inc. (ACI) has announced that it has reached a settlement framework valued at $774 million to resolve substantially all opioid-related claims brought against the company by state, local, and tribal government entities across the United States. Th
(RTTNews) - Albertsons Companies, Inc. (ACI) has announced that it has reached a settlement framework valued at $774 million to resolve substantially all opioid-related claims brought against the company by state, local, and tribal government entities across the United States. Th
(RTTNews) - Aegon Ltd. (AEGOF, AGN.AS), a life insurance and long-term savings business, on Wednesday announced that it has entered into an agreement to sell its Aegon UK business to Standard Life plc (SDLF.L) for 2 billion pounds, as part of its strategy to focus on its U.S. lif
(RTTNews) - Aegon Ltd. (AEGOF, AGN.AS), a life insurance and long-term savings business, on Wednesday announced that it has entered into an agreement to sell its Aegon UK business to Standard Life plc (SDLF.L) for 2 billion pounds, as part of its strategy to focus on its U.S. lif