Uber Could Invest Up to $1.25 Billion in Rivian, With a Driverless R2 Robotaxi Targeted for 2028

Uber could invest up to $1.25 billion in Rivian through 2031, including an initial $300 million and a contingent $250 million tranche tied to autonomy milestones, according to Reuters. The partnership targets a 2028 launch of a driverless R2 robotaxi in a handful of cities, expanding to about 25 over the following 18 months.

The deal would give Rivian something it badly needs: a deep-pocketed partner and a guaranteed customer for its autonomy platform. Rivian is a perennial cash burner, and CEO RJ Scaringe has said the company needs to scale production beyond its current 160,000-unit plans to reach overall profitability. A robotaxi fleet built on the R2 would put Rivian’s vehicles to work earning fares rather than sitting in driveways.

The timing follows a strong quarter for the R2. Rivian delivered a record 19,248 vehicles in Q3 2026, up 46% year over year, with the R2 emerging as its best-selling model by volume ahead of the R1T and R1S. The company raised full-year delivery guidance to 67,000-70,000 vehicles. Only the Performance R2 is on sale so far, from $59,485 including delivery, with the Premium trim expected later this year from $55,485 and the base version next summer from $46,485.

Wall Street is paying attention: UBS upgraded Rivian to buy, citing solid demand for the R2 after a 19% sell-off in the shares over the past month. The bank still warns Rivian will keep burning cash and will likely need to sell shares and take on debt to fund operations through at least 2029 — which is exactly the gap an Uber investment would help fill.