Uber Abandons Asset-Light Model, Bets $300 Million on Owning Robotaxi Fleet

Uber is pivoting from its platform-intermediary role to operate a fleet of 20,000 autonomous vehicles—a structural break from the asset-light ride-hailing model that defined the company for two decades. The $300 million investment in Lucid and commitment to buy Gravity SUVs signals that autonomous driving economics demand vertical integration. Success or failure will reshape how Uber competes beyond ride-hailing.