Uber jumps on extended partnership with Google's Waymo

Uber (NYSE:UBER ) shares jumped over 6% at the open on Friday after announcing an expansion of its partnership with Waymo, the autonomous driving unit of Alphabet's Google.

The two companies will bring fully autonomous ride-hailing services to Austin, Texas, and Atlanta, Georgia, starting in early 2025 and only available on the Uber app.

The move builds on the success of their existing collaboration in Phoenix, where Waymo's self-driving Jaguar I-PACE vehicles have already completed tens of thousands of trips for Uber riders.

Under the expanded agreement, Uber will manage and dispatch Waymo's autonomous vehicles, which will be available to riders who book UberX, Uber Green, Uber Comfort, or Uber Comfort Electric rides. The initial fleet of all-electric Jaguar I-PACE vehicles is expected to grow to hundreds over time.

"We're thrilled to build on our successful partnership with Waymo," said Uber CEO Dara Khosrowshahi. "Soon, riders in Austin and Atlanta will be able to experience that same mobility magic, through a new fleet of dedicated autonomous Waymo vehicles, available only on Uber."

Waymo co-CEO Tekedra Mawakana also voiced excitement about the expansion, highlighting Waymo's mission to be "the world's most trusted driver" and the positive feedback from Phoenix riders.

Under the terms of the partnership, Uber will handle fleet management services, including vehicle cleaning and repairs, while Waymo will maintain responsibility for the testing, operation, and safety of the autonomous vehicles.

With this expanded alliance, Uber continues to position itself strongly in the future of ride-hailing and autonomous driving technology to enhance its platform.

Source: Investing.com