Uber to spend $10bn on robotaxi race

By the Editorial Team · Thursday, August 6, 2026

Uber announced a $10 billion investment to deploy 120,000 autonomous robotaxis globally, aiming to expand its presence in at least 15 cities by 2026 and compete with rivals like Waymo and Tesla. This move leverages Uber's strong financial position and marks a strategic shift toward asset-heavy partnerships and data collection to lead the commercial autonomous vehicle market.

Uber has announced plans to invest more than $10 billion over the coming years to expand its network of autonomous robotaxis, aiming to leverage its sizable customer base and financial strength in the competitive race to commercialize driverless vehicles. The company intends to deploy 120,000 autonomous vehicles globally as part of this initiative.

The ride-hailing firm reported a record $2.8 billion in free cash flow for the second quarter of 2026, which brought its total free cash flow over the past twelve months to around $10.1 billion. Chief Executive Dara Khosrowshahi said this financial performance positions Uber to become a leading platform for autonomous mobility worldwide.

“We’re investing from a position of strength as we accelerate our cross-platform strategy at a global scale and build the world’s largest platform for autonomous vehicles,” Khosrowshahi said, emphasizing the company’s ambition to be at the forefront of commercializing autonomous transportation.

Uber plans to operate robotaxi services in at least 15 cities during 2026, competing directly with Alphabet’s Waymo and Elon Musk’s Tesla to launch robotaxi offerings in major markets. In the United Kingdom, Uber’s partner Wayve recently received regulatory approval from Transport for London (TfL) to start commercial robotaxi services with a safety driver behind the wheel. TfL authorized the use of 15 modified Ford Mustang Mach-E vehicles for this purpose. Wayve’s CEO, Alex Kendall, described this as a significant milestone for the UK’s autonomous vehicle ecosystem, with ride services expected to launch in London within weeks.

Despite the strong push into autonomous vehicles, Uber’s stock has faced downward pressure this year, falling about 13 percent amid investor concerns that robotaxi services may disrupt its core ride-hailing business. Uber had previously exited its own in-house autonomous vehicle program in 2020 amid cost-cutting efforts but has since shifted focus to partnering with emerging AV start-ups rather than developing the technology solely in-house.

Tensions have grown between Uber and Waymo, a former partner in several U.S. markets. The two companies reportedly plan to separate their autonomous operations in cities including Austin and Atlanta by 2028, reflecting a deepening competitive and regulatory lobbying battle over the future of AV deployment.

Uber has also taken a more asset-heavy approach than in the past, making investments in vehicle fleets and equity stakes in firms such as Zoox, Rivian, and Lucid. The company is deploying hundreds of sensor-equipped vehicles to collect data to support its AV partners, signaling a strategic commitment to the autonomy sector beyond its traditional “gig economy” model.

For the second quarter ending June 30, Uber reported gross bookings—total customer spending across its services—rose 24 percent year over year to $58 billion, surpassing analysts’ forecasts. Revenue increased 12 percent to $14.2 billion but narrowly missed expectations due to a previously disclosed $1.1 billion accounting adjustment related to changes in UK legislation. Operating income for the quarter reached $1.9 billion, slightly below market estimates.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.