Uber Technologies, Inc. (UBER) and General Motors Company’s (GM) Cruise announced a multi-year strategic partnership on Thursday. The partnership aims to bring Cruise’s autonomous vehicles to the Uber platform, marking a significant step towards integrating self-driving technology into the mainstream ride-hailing market.
The companies plan to launch the partnership next year with a fleet of Chevy Bolt-based autonomous vehicles. Once operational, Uber riders will have the option to choose a ride fulfilled by a Cruise autonomous vehicle. This move signifies a shared vision to democratize access to autonomous transportation and make it a readily available option for everyday commuters.
Dara Khosrowshahi, Uber’s CEO, expressed the company’s belief in playing a crucial role in bringing autonomous technology to consumers and cities worldwide. He highlighted Uber’s position as the largest mobility and delivery platform, emphasizing its ability to facilitate safe and reliable adoption of this transformative technology.
Cruise, known for its dedication to developing safe and reliable driverless technology, sees this partnership as a key step in its mission to redefine urban life. The company has resumed supervised autonomous driving in Phoenix, Arizona, and Houston and Dallas, Texas, alongside its ongoing testing in Dubai.
Marc Whitten, CEO of Cruise, expressed excitement about partnering with Uber to extend the benefits of safe and reliable autonomous driving to a wider audience. He envisions this collaboration as a catalyst for unlocking a new era of urban mobility, characterized by efficiency, convenience, and safety.
The stock market responded to the announcement with a mixed reaction. Uber shares dipped by 1.79% after-hours, closing at $72, while General Motors shares saw an increase of 1.27% to $47.05 at the time of publication. This indicates investor anticipation regarding the potential of this partnership while reflecting the inherent risks and uncertainties associated with the evolving autonomous vehicle landscape.
The collaboration between Uber and Cruise represents a significant development in the autonomous driving industry. It underscores the growing acceptance and integration of this technology into our daily lives, promising to transform urban mobility in the years to come.
