Sept 13 (Askume) – Uber Technologies (UBER.N) said on Friday it will expand its partnership with Alphabet (GOOGL.O).
Uber shares rose 5% and Alphabet shares rose nearly 2%.
The news comes at a critical time for self-driving companies, which are facing increased scrutiny from safety regulators due to a series of accidents and incidents related to the technology.
With the current expansion, Uber will manage and dispatch a fleet of fully autonomous, all-electric Jaguar I-Pace vehicles that will “grow to hundreds” over time, the company said.
Uber last year announced an initial partnership to make Waymo’s self-driving cars available to customers in Phoenix, Arizona.
Uber is developing a strategy to partner with electric vehicle manufacturers and self-driving companies to take advantage of new technologies, with the goal of converting its entire fleet to green energy.
Similar to its collaboration with Waymo, Uber has also partnered with Cruise (GMN), a subsidiary of General Motors, to make self-driving cars available on the Uber platform next year .
Uber sold its self-driving unit in 2020 to reduce cash burn and focus on its core businesses, including ride-hailing and food delivery.
