Uber to invest up to $1.25B in Rivian for autonomous robotaxis; 2027 EBITDA positive expectation dropped

Rivian Automotive, Inc. / DE

Uber commits $300M initial investment, up to $1.25B total subject to autonomy milestones; shares issued at VWAP.
First 10,000 fully autonomous R2 robotaxis to deploy in 2028 in San Francisco and Miami, scaling to 25 cities by 2031.
Uber has option to purchase up to 40,000 additional R2 robotaxis beginning in 2030.
Rivian withdraws 2027 adjusted EBITDA positive guidance due to increased R&D spend on accelerated autonomy roadmap.
Exclusivity: Rivian cannot sell Level 4 autonomous vehicles to Uber direct competitors during specified periods.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rivian Automotive, Inc. / DE entered into Master Framework Agreement with Rivian, LLC and Uber Technologies, Inc. (effective 2026-03-18).

Action: entry
Agreement: collaboration
Counterparty: Rivian, LLC and Uber Technologies, Inc.
Effective: 2026-03-18

Exact text from the filing

On the Effective Date, in connection with the execution and delivery of the Subscription Agreement, Rivian, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company ("Subsidiary"), entered into a Master Framework Agreement (the "Master Framework Agreement") by and among the Subsidiary, the Company and Uber, governing the collaboration between Subsidiary and Uber to develop, deploy, and operate autonomous vehicles on the Uber platform.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rivian Automotive, Inc. / DE entered into Subscription Agreement with SMB Holding Corporation and Uber Technologies, Inc. valued at $300 million (effective 2026-03-18).

Action: entry
Agreement: equity purchase
Counterparty: SMB Holding Corporation and Uber Technologies, Inc.
Value: $300 million
Effective: 2026-03-18

Exact text from the filing

On March 18, 2026 (the “Effective Date”), Rivian Automotive, Inc., a Delaware corporation (the “Company”), entered into a subscription agreement (the “Subscription Agreement”) by and among the Company, SMB Holding Corporation (“SMB”) and Uber Technologies, Inc. (“Uber”), providing for SMB’s investment in the Company through the sale and issuance of shares of the Company’s Class A common stock

View on SEC.gov

299 material agreements filed in the last 30 days. Browse all material agreements →

Rivian Automotive, Inc. / DE filing history →

Source: SEC EDGAR

accession 0001104659-26-031794

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.