Uber's $100M Robotaxi Power Play Targets China's Self-Driving Gold Rush

Uber Technologies Inc. UBER is doubling down on autonomous driving with plans to invest in the Hong Kong listings of Chinese robotaxi players Pony AI Inc. and WeRide Inc., according to people familiar with the matter. The San Francisco-based ride-hailing firm is weighing an investment of about $100 million in Pony AI's PONY share sale, which could raise as much as $972 million before any expansion option. Uber is also exploring participation in WeRide's offering, which seeks to raise up to $398 million. Talks are ongoing, and the final size of Uber's commitments could shift as negotiations evolve.

Uber's move underscores a tightening web of partnerships across its robotaxi network. The company already backed both firms' US IPOs and expanded those ties through joint operations pairing with Pony AI earlier this year to enter the Middle East and teaming up with WeRide in Abu Dhabi. Pony AI's American depositary receipts have climbed more than 50% since their November 2024 debut, signaling early investor enthusiasm. WeRide's shares, meanwhile, have fallen 28% since listing last October. If finalized, the Hong Kong investments could position Uber closer to China's fast-advancing driverless ecosystem one increasingly viewed as a global rival to Waymo and other US peers.

Both Pony AI and WeRide are raising capital to push their Level 4 autonomous fleets toward large-scale commercialization. Pony AI plans to channel its listing proceeds into expanding robotaxi and robotruck operations while targeting profitability by 2028 or 2029. WeRide intends to accelerate its mass production of autonomous fleets over the next five years as it races toward commercial maturity. Regional players like Grab Holdings, Temasek Holdings, and Bosch are also circling the listings, signaling a broader Southeast Asian push to capture value from the next phase of driverless mobility.