Uber has pledged to spend more than $10bn expanding its robotaxi network, arguing its financial strength and more than 200mn customers will give it an edge in the intensifying race to commercialise autonomous vehicles. The ride-hailing group generated a record $2.8bn in free cash flow in the second quarter, taking its 12-month total to about $10.1bn. Dara Khosrowshahi, Uber's chief executive, said the record cash haul would help it become the 'long-term winner in AVs' and that the group would commit $10bn 'over the coming years' to deploy 120,000 driverless vehicles. Uber plans to operate robotaxi services in at least 15 cities this year, as it races Alphabet's Waymo and Elon Musk's Tesla to become the first robotaxi service to launch in major markets.

Earlier on Wednesday, Uber announced that its UK partner Wayve had received permits from Transport for London to launch a commercial robotaxi service. Tf L said it had approved 15 of Wayve's modified Ford Mustang Mach-E vehicles. Uber's shares are down 13 per cent in 2026 amid fears that robotaxis will disrupt its ride-hailing service.

The company shuttered its in-house AV effort in 2020 but has been pushing to reposition itself as the key intermediary for AV start-ups, making significant commitments to invest in companies including Zoox, Rivian and Lucid.