TechCrunch Mobility: Uber enters its assetmaxxing era

In a significant shift towards asset acquisition, Uber is reportedly investing over $10 billion into the burgeoning autonomous vehicle sector, according to a recent analysis by the Financial Times. This investment encompasses more than $2.5 billion in direct funding and an ambitious $7.5 billion earmarked for purchasing robotaxis in the coming years. Uber's financial commitments reflect its ongoing strategy to deepen ties with companies in the autonomous vehicle field. Over the years, the ride-hailing giant has made numerous investments in various sectors related to autonomous technology, including partnerships with firms like WeRide, Lucid, Nuro, and Rivian. This new phase marks a return to a more asset-heavy model, reminiscent of Uber's earlier ventures into electric air taxis and its in-house autonomous vehicle unit, Uber ATG. From 2015 to 2018, Uber embarked on an aggressive acquisition spree, bringing in companies like Jump and Otto, only to pivot away from these asset-heavy projects in 2020. While it sold off many of its ventures, Uber retained equity stakes in several of these firms. Now, the company seems to be embracing a different strategy—focusing on ownership rather than development. This pivot could lead to a restructured balance sheet, as Uber considers acquiring fleets of robotaxis from other manufacturers. While this approach diverges from its initial vision, it may still position the company to achieve its long-term objectives. In related news, Eclipse Ventures has announced a new $1.3 billion fund aimed at fostering startups that innovate across the enterprise spectrum. This could include exciting projects like an autonomous hauler currently in development in San Francisco, rumored to eliminate the need for a driver cab. Meanwhile, electric vehicle startup Slate is preparing to produce affordable pickup trucks by 2026, having recently secured $650 million in a Series C funding round. Additionally, startups like Glydways and Loop are making headlines with substantial funding rounds aimed at advancing autonomous transportation solutions. As the automotive industry continues to evolve, major players like GM and Ford are exploring partnerships with the Pentagon to enhance military procurement processes. The landscape for electric and autonomous vehicles is rapidly changing, with companies like Rivian and Redwood Materials collaborating on innovative battery solutions to meet growing energy demands. Lastly, Tesla has introduced a new self-driving app to streamline subscriptions for its Full Self-Driving software, while Waymo is expanding its robotaxi services in Miami and Orlando, further solidifying the trend towards autonomous transportation.