Uber has allocated more than $10 billion to purchase thousands of self-driving vehicles and to acquire stakes in the companies developing them—moving away from its asset-light business model, according to The Financial Times.
Based on analysts’ estimates and informed sources, the paper said these deals put Uber on track to invest more than $2.5 billion in buying shares in those companies and to spend more than $7.5 billion on self-driving taxi fleets over the coming years.
Over the past year, the ride-sharing company has stepped up its deal-making activity. It announced partnerships with more than 12 companies, including China’s Baidu and the U.S.’s Rivian, along with plans to launch self-driving taxi services in at least fifteen cities by 2026.
This plan signals a radical shift in the company’s strategy—one that has already revolutionized the transportation sector through its pioneering approach that relies on drivers using their own vehicles to transport passengers.
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