Uber invests $100 million to build autonomous taxi charging hubs

2026-02-19 02:27:20

Investing.com - Uber (NYSE:UBER) plans to invest over $100 million in the United States to build fast-charging autonomous vehicle charging stations, marking its latest move to establish a key position in the autonomous taxi industry. The company stated in a Wednesday release that it will focus on building new high-capacity charging hubs in the San Francisco Bay Area, Los Angeles, and Dallas. Following the announcement, the stock price rose 2.9%.

This investment aims to address market concerns about Uber’s long-term viability, as autonomous fleets from competitors like Waymo, a subsidiary of Alphabet Inc., are gaining market share. Uber intends to manage ground operations for these fleets and claims to have infrastructure “that can improve efficiency, reduce costs, and allow vehicles to stay on the road longer, thereby maximizing utilization and uptime.”

Pradeep Parameswaran, Uber’s Global Head of Mobility, said, “Only by building scalable charging infrastructure can cities fully unlock the potential of autonomous driving and electrification.” He pointed out that through “investment,” the company is helping cities prepare for a fully electric future while reducing driver costs.

The new strategy includes the construction of comprehensive DC fast-charging stations at autonomous vehicle sites where Uber already manages daily fleet operations, including cleaning and inspections. Currently, Uber manages such operations in Atlanta and Austin through a partnership with Waymo, and provides management services for WeRide vehicles in Abu Dhabi and Dubai.

Uber also offers utilization guarantees to help unlock over $100 million in new public electric vehicle charging infrastructure worldwide for drivers. By using internal data to identify locations most in need of charging facilities, Uber plans to install over 1,000 new charging stations in cities like New York, London, and Paris.

Despite the significant investment, Uber faces a challenging market environment, with its stock price down 14% over the past month. However, the company remains optimistic, expecting autonomous vehicles to be operational in at least 10 cities within its network by the end of 2026.

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