Uber Shares Edge Higher After Striking Global Autonomous Vehicle Deal with Baidu

Uber Technologies Inc. (NYSE:UBER) saw its shares rise 1% in premarket trading on Tuesday after revealing a long-term strategic collaboration with Chinese tech heavyweight Baidu Inc. (NASDAQ:BIDU) to bring self-driving taxis to Uber’s platform in select international markets.

The partnership will integrate thousands of Baidu’s Apollo Go autonomous vehicles into Uber’s ride-hailing ecosystem across various countries outside the United States and mainland China. Rollout is expected to begin later this year, with early markets including the United Arab Emirates—specifically Dubai and Abu Dhabi—where Baidu’s driverless vehicles are already in service.

Under the agreement, users requesting eligible trips on Uber may be matched with a fully autonomous Apollo Go vehicle, offering a new transportation option. The joint effort is designed to expand access to cost-effective, reliable mobility solutions by merging Uber’s global footprint with Baidu’s autonomous driving capabilities.

Baidu’s Apollo Go fleet consists of over 1,000 driverless vehicles operating across 15 cities worldwide. According to both companies, the service has logged more than 11 million public rides as of May.

“This partnership brings together two of the world’s most iconic technology companies to help shape the future of mobility,” said Dara Khosrowshahi, CEO of Uber. “As the world’s largest platform of its kind, spanning mobility, delivery, and freight, Uber is uniquely positioned to help AV leaders like Baidu bring their autonomous technology to the world.”

Baidu’s CEO Robin Li described the collaboration as “a major milestone in deploying our technology on a global scale.”

Uber Technologies stock price

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.


Posted

in

by

Tags: