Welcome to the latest edition of TechCrunch Mobility, where we explore the integration of AI in transportation. Recently, Uber’s substantial investments in autonomous vehicle technology have come to light, with reports revealing that the company has allocated over $10 billion toward purchasing autonomous vehicles and investing in tech developers. Of this, approximately $2.5 billion is direct investment, while the remaining $7.5 billion is aimed at acquiring robotaxis in the coming years.
Uber’s strategy reflects its ongoing evolution in the asset-heavy domain of transport, having previously attempted a lighter asset model. Between 2015 and 2018, Uber engaged in various ambitious projects, including the launch of Uber Elevate (electric air taxis) and the acquisition of Otto, which enhanced its in-house autonomous unit, Uber ATG. However, in 2020, Uber retracted from these initiatives, selling Uber ATG to Aurora and other assets to various firms, although it retained equity stakes in several.
Now, Uber appears to have pivoted back towards an asset-heavy strategy, not by developing technology in-house but by focusing on acquiring fleets from other manufacturers. This new direction may contribute interesting entries to Uber’s financial reports down the line.
In related news, Eclipse Ventures has raised a $1.3 billion fund to cultivate new startups, particularly those with enterprise applications. On the horizon, a San Francisco startup focusing on an innovative autonomous hauler is poised to announce funding soon, drawing comparisons to existing models in the market.
Several noteworthy funding rounds have also surfaced, including Slate, which raised $650 million for the production of affordable electric pickup trucks, and Glydways, which secured $170 million to develop personal autonomous pods. Both companies are making significant strides in their respective sectors.
In the automotive industry, Ford and GM are reportedly in discussions with the Pentagon to explore collaborations on vehicle procurements, signifying the military’s interest in leveraging advancements from the auto sector. Additionally, Loop, another startup in the electric vehicle sector, successfully raised $95 million, while Monarch Tractor’s assets were acquired by Caterpillar after challenges transitioning to software.
Lastly, Uber is looking to increase its stake in Delivery Hero, further intertwining its interests within the delivery sector. Notably, Waymo has begun testing its autonomous vehicles on London’s public roads and has lifted the waitlist for its robotaxi services in Miami and Orlando, indicating rapid expansion in its service offerings.
For more insights into how AI and robotics intersect with autonomous transportation, tune into my podcast, Autonocast. Here, we explore various innovative developments shaping the future of mobility.
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