Uber targets 700 driverless cars by year-end
The move
Uber's third-quarter results, released Nov. 4, showed revenue of $14.77 billion, up 10% year over year, and non-GAAP EPS of $0.88, up 35% year over year. Gross bookings rose 20% to $59.82 billion. For the fourth quarter, Uber guided to gross bookings of $63.25 billion to $65.25 billion and non-GAAP EPS of $0.95 to $0.99. CEO Dara Khosrowshahi said Uber expects about 700 fully driverless vehicles on its platform by the end of 2026 and more than 2,000 by 2027.
Why it matters
Uber is leaning on robotaxi partners rather than its own drivers for its next leg of growth, a shift that could reshape its costs and margins if the driverless ramp holds up.
The bear case
Seven hundred driverless vehicles is a small fraction of Uber's millions of daily trips, and the company still depends on recruiting human drivers, which its own filing lists as a risk to Mobility supply.
What to watch
Whether Uber's driverless vehicle count is tracking toward its 700-by-year-end target.
