Transportation
Uber, Nebius to Invest Up to $375 Million in Robotaxi Firm
Uber and Nebius are planning to launch a fleet of Hyundai Ioniq 5s retrofitted with Avride’s software in Dallas by the end of the year.
Source: AvrideUber Technologies Inc. and Nebius Group NV are committing as much as $375 million to develop Avride, the Dutch cloud infrastructure company’s autonomous vehicle subsidiary.
The new funding, which includes strategic investment and commercial commitments, will help accelerate the growth of Avride’s driverless fleet to as many as 500 cars, an Avride spokesperson said. If Avride reaches certain agreed milestones, both companies will contribute additional capital, bringing the total potential investment to $375 million, the spokesperson added without providing more details.