Uber in talks with banks, PE firms to fund robotaxi expansion

Uber is in talks with private equity firms and banks to secure funds to build its robotaxi business, CEO Dara Khosrowshahi said, as the ride-hailing giant bets on a mass roll-out of the nascent and much-scrutinized technology.

- Reuters

Uber, which offers robotaxis from Alphabet-owned Waymo, has been strengthening its foothold in the self-driving taxi industry through partnerships with automakers such as Volkswagen and Lucid, just as Tesla seeks to expand its fledgling robotaxi business.

Khosrowshahi on Wednesday pitched the tie-ups as part of a larger plan that involves three robotaxi business models: paying partners that own such vehicles a fixed rate, sharing revenue with fleet operators and owning vehicles while licensing software for self-driving technology.