Uber plans to spend $100 million developing robotaxis autonomous charging stations

In an effort to become a major force in the robotaxi market, Uber Technologies Inc. (NYSE:UBER) intends to invest over $100 million in the construction of fast-charging stations for autonomous cars in the US. After stating in a statement that it will concentrate on constructing the new high-capacity charging stations, beginning in the San Francisco Bay Area, Los Angeles, and Dallas, the company’s shares increased 2.9% on Wednesday.

The investment attempts to allay doubts regarding Uber’s long-term sustainability as rival autonomous fleets, including Waymo from Alphabet Inc., increase their market share. Since controlling infrastructure «improves efficiency, reduces costs, and keeps vehicles on the road longer, maximizing utilization and uptime,» Uber plans to oversee the ground operations of these fleets.

«Only by building the proper charging infrastructure at scale can cities realize the full potential of autonomy and electrification,» stated Pradeep Parameswaran, Global Head of Mobility at Uber.

In autonomous depots where Uber already oversees daily fleet operations, such as cleaning and inspections, the new approach incorporates full-service DC fast-charging stations. Uber presently oversees these operations in Abu Dhabi and Dubai for WeRide, and in Atlanta and Austin through its relationship with Waymo.

In order to assist charging networks in unlocking over $100 million in new public EV charging infrastructure for drivers worldwide, Uber is also offering usage guarantees. Uber hopes to make it easier to deploy more than 1,000 new chargers in cities like New York, London, and Paris by use its internal data to determine where charging is most required.