Uber News Updates

Uber’s investment expands on a multiyear partnership with Austin-based Avride to deploy autonomous vehicles and food delivery robots.

The company expects non-restaurant deliveries to hit an annual run rate of $12.5 billion in gross bookings by the end of 2025,  25% more than the $10 billion run rate it shared in May.

Tests with Flytrex’s autonomous drone delivery system will begin in Uber Eats pilot markets by the end of the year.

Lyft is testing the feature with a limited number of drivers, and it will gather data and community feedback before deciding on a broader roll-out.

Waymo is already an established partner with Lyft rival Uber.

Blade’s passenger business, which Joby acquired in August, currently operates routes in the New York metropolitan area and southern Europe via its own consumer app.

The sale represents Uber’s second as a blue-chip company after it tapped investors for $4 billion around a year ago. The proceeds will be used for general corporate purposes.

The Guangzhou-headquartered firm’s optimism comes as it eyes new markets in Europe. Road testing is being carried out in Luxembourg.

The results landed just hours after Uber issued a better-than-expected forecast for the third quarter and exceeded Wall Street’s expectations on gross bookings.

The company said it has an opportunity to reach more consumers by cross-selling its rideshare and delivery services and adapting them to a wider range of customer needs.