Is Tesla's Robotaxi in Jeopardy After Uber's Latest Partnership?
One of the biggest innovations going on in the automobile market right now is autonomous driving. While many car manufacturers have developed some form of self-driving capability, electric vehicle (EV) pioneer Tesla (NASDAQ: TSLA) seems to fetch the most attention. The company was supposed to showcase the progress of its autonomous driving fleet, dubbed robotaxi, on Aug. 8. However, Tesla CEO Elon Musk canceled the event at the last minute and rescheduled it for Oct. 10.
In the midst of all of this hoopla, ridesharing platform Uber Technologies (NYSE: UBER) has taken some shots at robotaxi's viability. Just a couple of days ago, Uber announced a partnership with General Motors -- a rival to Tesla in both electric vehicles (EVs) and autonomous driving. Let's take a look at Uber's new partnership and assess what it could mean for Tesla investors.
Uber has a number of relationships with car companies seeking to disrupt the autonomous vehicle market. Most notably, Uber works closely with Waymo -- a subsidiary of Alphabet. In late August, Uber announced that it is also teaming up with a subsidiary of General Motors, called Cruise.
Source Fool.com
Uber Technologies Inc Stock
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