Key Stats for Uber Stock
- Price change for Uber stock in last 1 year: -17%
- $UBER Stock Price as of Aug. 13: $76
- 52-Week High: $102
- $UBER Stock Price Target: $102
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What Happened?
Uber (UBER) stock is in focus after the company announced it’s expanding its robotaxi partnership with Pony.ai in a big way.
The two companies plan to deploy 2,000 of Pony.ai’s self-driving taxis across Europe, and they’re also expanding the partnership into the Middle East.
Uber and Pony.ai already launched what they call Europe’s first commercial robotaxi service in Zagreb, Croatia back in late March. Now, robotaxis are set to roll out to four more European cities, though the companies haven’t named which ones yet or given an exact timeline.
Fleet size matters a lot in this business. More vehicles means more data to show regulators the service is safe, better efficiency, and more people willing to try it out.
Right now, Alphabet-backed Waymo leads the pack globally with around 5,000 vehicles, mostly in the U.S., while also testing in London and reportedly setting up in France, the Netherlands, Spain, and Germany. Chinese competitors Baidu Apollo Go and WeRide are also pushing into Europe.
Uber shows up across many of these plans. The company and WeRide announced in June that they’ll launch Spain’s first robotaxi pilot in Madrid later this year, and the two also partnered in Abu Dhabi and Dubai.
Just this week, Uber’s Japanese subsidiary signed an agreement with a local taxi operator for a robotaxi test in Tokyo later this year.
This expansion fits into a bigger goal CEO Dara Khosrowshahi laid out on Uber’s Q2 earnings call. He said Uber wants to become the world’s leading commercialization platform for autonomous vehicles.
Khosrowshahi explained that Uber is currently live in 7 cities with autonomous vehicles and is on track to reach 15 by year-end, with launches planned involving partners like Nuro, Lucid, Zoox, and Wayve.
He also described plans to build out an AV data lab, collecting what he called “a super set of data” from rideshare-specific scenarios that Uber can share with all its partners to help speed up development across the entire industry.
Uber’s broader business also had a strong Q2.
- Gross bookings grew 22% year-over-year to more than $58 billion, marking the fourth straight quarter of growth above 20%.
- Non-GAAP earnings per share climbed 35% year-over-year, and trailing 12-month free cash flow topped $10 billion for the first time in company history.
- Khosrowshahi noted that autonomous vehicles still account for hundreds of thousands of trips per week, compared to Uber’s overall 300 million trips per week, meaning AVs remain under 0.5% of total trip volume today.
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What the Market Is Telling Us About Uber Stock
The Pony.ai expansion shows Uber stock benefiting from a strategy of partnering broadly across the AV industry rather than betting on a single robotaxi provider.
By working with multiple companies across regions, Uber positions itself to capture growth no matter which autonomous vehicle technology scales fastest.
With strong underlying financials from its core ride-hailing and delivery business, plus a growing footprint in autonomous vehicles across Europe, the Middle East, and Asia, investors watching Uber stock will likely watch how quickly these robotaxi partnerships convert into meaningful trip volume in the years ahead.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
