Rivian (RIVN.O), opens new tab is working on undisclosed variants of its R2 electric vehicles, the company's CEO said, days after starting volume production of the smaller and more affordable SUVs.

Uber Technologies is committing more than $10 billion to autonomous vehicles, marking a major shift from its traditional asset-light business model as it prepares for a future shaped by robotaxis.

Volkswagen has reached a key milestone in its software partnership with Rivian, clearing the way for the next phase of investment in their joint venture.

Rivian Automotive (NASDAQ:RIVN) shares rose as much as 10% Thursday morning before paring gains to 4% following an announcement that Uber Technologies (NYSE:UBER) will invest up to $1.25 billion in the electric vehicle maker through 2031 as part of a robotaxi partnership.

Uber will invest up to $1.25 billion in electric vehicle maker Rivian as part of a major robotaxi partnership, the companies announced Thursday. The ride-hailing giant plans to deploy 10,000 fully autonomous Rivian R2 SUVs on its platform starting in 2028, with the option to purchase 40,000 more from 2030.

Volkswagen appointed former Rivian (NASDAQ:RIVN) executive Kjell Gruner as head of its American business on Tuesday, as the automaker faces a choppy electric transition and ongoing negotiations with the United Auto Workers union in the region, News.az reports citing Investing .