CNBC reported Uber plans to invest up to $1.25 billion in Rivian in a deal for robotaxis.
The deal would be for the deployment of up to 50,000 robotaxis through 2031, both companies announced on Thursday.
If approved by regulators, Uber will invest $300 million as soon as the deal is signed.
Robotaxis are autonomous vehicles and are expected to be a multitrillion-dollar market.
