Uber Technologies Inc. has committed nearly $500 million to self-driving startup Nuro. This investment supports Uber's strategy to integrate autonomous vehicles onto its platform without developing the technology in-house.
The total figure includes a previously reported $203 million funding round and a subsequent larger investment. Uber tied the financial commitment to Nuro achieving specific development and commercial milestones.
The collaboration forms a three-way partnership with electric vehicle manufacturer Lucid. The companies aim to deploy tens of thousands of robotaxis using Nuro technology on the Uber network.