Uber Technologies, Inc (NYSE:UBER) announced on September 24 that it has entered into a strategic partnership with Avride to bring Avride delivery robots and autonomous vehicles to Uber and Uber Eats. This ,,delivery” partnership will launch first with curbside robots at Uber Eats in Austin in the coming weeks and expand to Dallas and Jersey City, New Jersey later this year. It is also expected to launch in Dallas late next year. Avride has an exceptional head start on the competition in developing and operating both autonomous cars and delivery robots that use mutually improving technologies. The company’s delivery robots are already making commercial deliveries in the US and South Korea. Its autonomous cars are also currently being tested on public roads.
Uber Technologies, Inc. (UBER:NYSE) also announced a partnership with WeRide to implement the technology startup robotaxis in the United Arab Emirates, according to a press release dated Sept. 25, 2024. This partnership with WeRide is expected to be launched in Abu Dhabi later this year. WeRide is an international L4 autonomous driving technology company and is the only technology company in the world to hold driverless driving permits in China, the US, the UAE and Singapore. WeRide’s first global collaboration will help expand its reach beyond China, while Uber continues to integrate robotaxis into its business platform. WeRide has been awarded the UAE’s first and only national license for self-driving vehicles, allowing the Chinese firm to test and operate robotaxis on public roads across the UAE. WeRide will also be going public in the near future through an initial public offering on the US stock exchange. The value of the IPO is expected to be worth up to US$5 billion. Currently, the initial public offering has been postponed due to incomplete documentation and the company is working to complete the necessary documentation.
Uber Technologies, Inc. (UBER:NYSE) has also expanded its partnership with Alphabet’s (GOOGL.O), which will open Waymo’s route through robotaxis to the U.S., specifically Austin and Atlanta. Uber has also teamed up with automotive giant General Motors Corp (owns brands: Chevrolet, Buick, GMC, Cadilac, Baojun, Wuling) through robotaxi, which will offer driverless autonomous vehicles in its lineup starting next year. These facts have attracted multinational banking corporations and private investors to buy shares of Uber Technologies, Inc. (UBER:NYSE), for which 31 Wall Street analysts have set an average target price for the short- to medium-term investment horizon at $89.31 per share.
