Uber to invest $100 million in autonomous vehicle charging hubs for robotaxis

Investing.com — Uber Technologies Inc (NYSE:UBER) is planning to spend more than $100 million to build fast-charging, autonomous-vehicle charging stations in the U.S., the latest move to establish itself as a critical player in the robotaxi industry. The company’s stock ticked up 2.9% on Wednesday after saying in a statement that it will focus on building the new high-capacity charging hubs starting in the San Francisco Bay Area, Los Angeles, and Dallas.

The investment aims to address skepticism regarding Uber’s long-term viability as autonomous fleets from competitors like Alphabet Inc.’s Waymo gain market share. Uber intends to manage the ground operations for these fleets, asserting that owning infrastructure “improves efficiency, lowers costs and keeps vehicles on the road longer, maximizing utilization and uptime.”

“Cities can only unlock the full promise of autonomy and electrification if the right charging infrastructure is built for scale,” said Pradeep Parameswaran, Uber’s Global Head of Mobility. He noted that by “putting capital on the table,” the company is helping cities prepare for an all-electric future while lowering costs for drivers.

The new strategy includes full-service DC Fast Charging stations built at autonomous depots where Uber already manages day-to-day fleet operations, including cleaning and inspections. Uber currently manages such operations in Atlanta and Austin through its partnership with Waymo, and in Abu Dhabi and Dubai for WeRide vehicles.

Uber is also providing utilization guarantees to help charging networks unlock over $100 million in net-new public EV charging infrastructure for drivers globally. By using its internal data to identify where charging is most needed, Uber aims to facilitate the installation of over 1,000 new chargers across cities including New York, London, and Paris.

Despite the aggressive spending, Uber faces a challenging market environment, with shares having declined 14% over the past month. The company remains bullish, however, projecting that autonomous vehicles will be active on its network in at least 10 cities by the end of 2026.

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