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AI NewsTechCrunch Mobility: Uber enters its assetmaxxing era

TechCrunch Mobility: Uber enters its assetmaxxing era

10:03 PM IST · April 19, 2026

TechCrunch Mobility: Uber enters its assetmaxxing era

Welcome back to TechCrunch Mobility, your hub for the future of transportation and now, more than ever, how AI is playing a part. To get this in your inbox, sign up here for free — just clickTechCrunch Mobility! A few weeks ago, I wrote about howUberseemed to beeverywhere, all at oncein the emerging autonomous vehicle technology sector. The Financial Times has now put a number on it. The FT calculated that Uber has committedmore than $10 billionto buying autonomous vehicles and taking equity stakes in the companies developing the tech, according to public records and discussions with folks behind the scenes. About $2.5 billion of that is in direct investments, with the remaining $7.5 billion to be spent on buying robotaxis over the next few years, the outlet reported. We’ve reported on Uber’s numerous investments and deals with autonomous vehicle companies across drones, robotaxis, and freight. Some of its investments includeWeRide,Lucid and Nuro,Rivian, andWayve. This rather large number (and particularly that $7.5 billion) got me thinking about another transformative era in Uber’s history and how it has visited these asset-heavy shores before. Uber might have started with a plan to be asset light, but for a brief period it did quite the opposite. Uber went on a moonshot spree between 2015 and 2018. It launched electric air taxi developer Uber Elevate and the in-house autonomous vehicle unit Uber ATG, which would be boosted by itsacquisition of Ottoin 2016. It also snapped upmicromobility startup Jumpin 2018. And then in 2020, Uber pulled the asset-heavy rip cord, ostensibly leaving all of those moonshots behind. Ubersold Uber ATGto Aurora,Jump to Lime, andElevate to Joby Aviation. But it didn’t completely divest; it kept equity stakes in all of them. Uber is now entering into a new and different asset-heavy era. It’s not plunking down millions, or even billions, to develop the technology in-house, although I’m sure folks there would be quick to pipe up that there is always R&D happening over at Uber. Instead, it appears to be focused on owning (or perhaps leasing) the physical assets. That could mean interesting line items on Uber’s balance sheet in the future. Owning fleets of robotaxis built byothercompanies might not have been the original vision of Uber, or its former CEO Travis Kalanick, who has said the companymade a mistakewhen it abandoned its AV development program. But this new approach could still get it to the same end point. Earlier this month, I interviewedEclipsepartnerJiten Behlabout the venture firm’s new$1.3 billion fundand where that money might be headed. The firm, as I wrote, intends to incubate more startups (e.g., it was behind theRivian spinout Also). Behl wouldn’t give me details, only stating, “We’re definitely working on a couple of really cool ideas.” He also said Eclipse is particularly interested in startups that work across enterprises. Thanks to one little bird and some document diving by senior reporter Sean O’Kane, it looks like a seed round announcement is imminent for a San Francisco-based startup working on an autonomous hauler that I’ve been told doesn’t have a driver cab. This sounds similar to what Einride has built, but since we haven’t seen it, we’ll have to wait. The company’s roster isn’t big, but it is chock-full of Silicon Valley tech elite, including a founder who was at Uber ATG, Pronto, and Waabi. Stay tuned for more. Got a tip for us? Email Kirsten Korosec atkirsten.korosec@techcrunch.comor my Signal at kkorosec.07, or email Sean O’Kane atsean.okane@techcrunch.com. Slateis back with more capital as it prepares to put its first affordable pickup trucks into production by the end of 2026. The electric vehicle startup, which got its start with backing from Jeff Bezos, raised another$650 millionin a Series C funding round led by TWG Global. Keep your eye on TWG. This is the firm run by Guggenheim Partners chief executive (and Los Angeles Dodgers owner) Mark Walter and investor Thomas Tull. Slate has raised about $1.4 billion to date, and its previous investors include General Catalyst, Jeff Bezos’ family office, VC firm Slauson & Co., and former Amazon executive Diego Piacentini, asTechCrunch first reported last year. Other deals that got my attention … Glydways, a San Francisco-based startup developing personal autonomous pods designed to operate on dedicated 2-meter-wide lanes in cities, raised $170 million in a Series C funding round co-led by Suzuki Motor Corporation, ACS Group, and Khosla Ventures. Existing investors Mitsui Chemicals and Gates Frontier and new investor Obayashi Corporation also participated. But wait,there’s more. GMandFordare reportedly talking to the Pentagon about whether the auto industry can help the military revamp its procurement program and find cheaper, faster ways to buy vehicles, munitions, or other hardware, theNew York Times reported, citing anonymous sources. Loop, a San Francisco-based startup,raised $95 millionin a Series C funding round led by Valor Equity Partners and the Valor Atreides AI Fund, and includes investments from 8VC, Founders Fund, Index Ventures, and J.P. Morgan’s late-stage fund, Growth Equity Partners. Monarch Tractor, the startup developing electric, autonomous tractors, has moved on to (ahem) a different pasture. The startup’s assets have beenacquired by Caterpillarafter struggling to pivot to a software services business. Uberis increasing its stake inDelivery Heroby 4.5%, theFinancial Times reported. Uber agreed to buy about 270 million euros in shares from Prosus, the Dutch investment group and Delivery Hero’s largest shareholder. Doug Field, the high-profile executive who shapedFord’s electric vehicle and technology strategies over the past five years,is leaving. Notably, Ford is shaking up the organization as well, creating a “product creation and industrialization” team to be led by COOKumar Galhotra. Any guesses where Field is headed next? Perhaps he’ll return to Silicon Valley. Lightship, the all-electric RV startup, isexpandingits Colorado-based factory by another 44,000 square feet, which will allow it to quadruple its manufacturing capacity. Rivianand battery recycling and materials startup Redwood Materials partnered years ago. We’re now seeing the fruits of that relationship. Redwood is installing battery energy storage at Rivian’s factory in Illinois. The catch? Redwood is using100 second-life Rivian battery packs, which will provide 10 megawatt-hours (MWh) of dispatchable energy to reduce cost and grid load during peak demand periods. Teslacreated a new self-driving app that makes it easier for owners to subscribe to its Full Self-Driving software andsee statisticson how — and how often — they use it. This may not be huge news, but it did catch my eye because of the gamified qualities of these new stats. Waymo, as per usual, has a few news items this week. The Alphabet-owned company started testing its autonomous vehicles on public roadsin London. It also removed its waitlist in Miami and Orlando to scale its robotaxi services in the two cities. This newsletter isn’t my only project that is leaning more heavily into robotics. My podcast, theAutonocast, is too, as the worlds of autonomous vehicles, AI, and robotics mash together.Check out this interviewwithFoxglovefounderAdrian MacNeil, who previously worked at Cruise.

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