JavaScript is disabled in your browser. Please enable JavaScript to proceed. A required part of this site couldn’t load. This may be due to a browser extension, network issues, or browser settings. Please check your connection, disable any ad blockers, or try using a different browser.
Uber Stock Down 14% in 2026: Q2 Good, But Plans to ‘Scale its AV Ecosystem’ Better Uber Technologies (NYSE:UBER) sees stock price targets lowered by some analysts after its second-quarter financial results and weaker than expected guidance. Here’s what the experts are saying about the short and long term of the ride-share and mobility company. The Uber Analysts DA Davidson analyst Tom White maintained a Buy rating on Uber stock and lowered the price target from $107 to $100. Needham analyst Bernie McTernan reiterated a Buy rating with a price target of $109. Cantor Fitzgerald analyst Deepak Mathivanan maintained an Overweight rating and lowered the price target from $98 to $90. JPMorgan analyst Doug Anmuth has no rating or price target on Uber, but offered post-earnings commentary in a new note. Read Also: Gary Black Says Uber, Not Tesla or Waymo, Has the Best Shot at Bringing Robotaxis to the Masses DA Davidson on UBER Stock Revenue momentum and cost discipline in the second quarter were positive, but may be overshadowed by third-quarter guidance, White said in a new investor note. The analyst said autonomous driving continues to be a key focus area by the company and investors. "The opportunities and risks posed by AV remain at the forefront of investors’ minds, and we think 2Q’s solid Mobility performance should help temper any concerns about share loss from AV pure-plays like Waymo," White said. The analyst said Uber’s U.S. mobility business accelerated in the second quarter and management said it is expected to accelerated each quarter this fiscal year. Autonomous vehicles account for around 0.5% of Uber’s overall trip volume currently, with management saying that number could rise slowly in the near-term. Needham on UBER Stock Uber’s current business is "steady," but investors are focused on the future, McTernan said
Safety standard unveiled for autonomous driving systems China Daily | Updated: 2026-08-06 09:19 China has released a mandatory national standard regarding safety requirements for autonomous driving systems, the Ministry of Industry and Information Technology said on Tuesday. The standard is scheduled to take effect on July 1, 2027. It applies to M and N-category vehicles equipped with Level 3 and Level 4 autonomous driving systems, but does not cover automated parking systems, the MIIT said. The standard requires vehicle manufacturers to improve safety assurance mechanisms throughout the product life cycle and carry out simulation, field and road tests during the development and verification of autonomous driving systems, according to the MIIT. It also calls for stronger capabilities in performing dynamic driving tasks, while specifying requirements for human-machine interaction and user notification to prevent misuse and abuse. For Level 3 systems, vehicles must be able to monitor drivers' readiness to take over control. Looking ahead, the ministry said that it will strengthen market access management for intelligent connected vehicle products, improve testing methods for autonomous driving systems, and build a sound regulatory mechanism for intelligent connected vehicles to ensure the sector's high-quality development. China's inaugural step into conditional automated driving is a characteristically strategic and guarded one. It is a controlled experiment designed to accumulate real-world data, refine technologies and standards within a safety-centric framework, and steadily build the foundation for the responsible integration of autonomous driving, experts said. XINHUA-CHINA DAILY
Moove’s evolution from a vehicle financing startup to ride-hailing and deliveries in Africa to one that also owns autonomous vehicles may seem like a leap. But co-founder and co-CEO Ladi Delano said the experience in financing and human-driven ride-hailing fleets was the ideal training ground for its latest pursuit. And now it has raised $250 million at a $2.1 billion valuation to scale that business. The company, founded in 2020 in Nigeria and now headquartered in Dubai, said Mubadala Investment Company led this latest Series C round, with Woven Capital and Ion Pacific as co-leads. Moove is still very much in the human-driven ride-hailing business. It owns and operates a 42,000-vehicle ride-hailing fleet across 14 countries. The company, which employs 3,300 people globally, also still provides vehicle financing to gig drivers. Its expansion into autonomous vehicles started in early 2023 after evaluating the industry and its four main players in this nascent ecosystem: the AV developers, vehicle manufacturers, marketplaces like Uber, and the consumer. None of these players want to “own the metal,” Delano told TechCrunch, referring to the vehicles. “In this world, who owns the vehicle? Who operates the vehicle? Who orchestrates the vehicle? Who does the servicing, the maintenance? Who does the lost property? Who does the cleaning?” Delano asked. It became clear, he added, that Moove’s experience managing large fleets and providing financing could translate to autonomous vehicle operations. “Let’s create a product where we own, operate, and orchestrate autonomous vehicles, and let’s go and find partners to do it with — and that’s essentially what we did,” Delano said. “In 2023, we started talking to every single AV company you could imagine, and as you know — God would have it, luck would have it — we managed to partner with Waymo first.” Moove is the
At our past TechCrunch Disrupt events, AI has taken center stage, both throughout our programming and in a stage of its own. This year, the technology, implications, and players are so rapidly developing and widespread that we’re expanding the single AI stage into two! The AI Stage will continue as you’d expect, with a rundown of sessions and speakers available for review right here. But the Real World AI Stage is brand-new for TechCrunch Disrupt 2026. On this stage, we’ll be focusing on that intersection between the digital and physical, and all the ways we’ll continue to see a blending of the two, as autonomous hardware goes beyond self-driving cars and enters public spaces, battlefields, our homes, and even potentially helps extinct species reenter Earth. It’s a packed lineup featuring speakers from Shield AI, Colossal Biosciences, FieldAI, Foxglove, and more still to come. You can join in on all the excitement October 13 to 15 at San Francisco’s Moscone West. As a bonus, if you’re catching this before 11:59 p.m. PT on August 7, you can get an extra $100 off your ticket by following this link. Here’s the first breakdown of our Real World AI Stage lineup: Building AI Systems When Failure Is Not an Option With Nate Michael, CTO, Shield AI When AI enters the physical world, the consequences of failure change. A mistake could lead to a grounded aircraft, a vehicle crash, or a compromised mission. In this session, leaders who are building autonomous vehicles, defense technologies, and industrial systems will talk about one of the toughest questions that every hard tech founder must face: How do you know when your system is ready to be safely deployed? We’ll dig into how founders can create a safety culture, test and validate AI, navigate regulatory hurdles, and build
Moove, the Nigerian-founded mobility fintech, has raised $250 million in a Series C funding round, pushing its valuation to $2.1 billion as the company increase its expansion into autonomous vehicle infrastructure. The funding round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific. The latest investment will be used to scale Moove’s autonomous mobility business, including expanding its autonomous vehicle fleet, building robotics-enabled charging and maintenance depots known as “Nests,” and entering new international markets. New investors including BlueCrest Capital Management, Sona Asset Management and The Raptor Group also participated, alongside existing backers such as BlackRock, Uber, MUFG, Franklin Templeton and Left Lane Capital. Founded in 2020 by Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove began by providing vehicle financing to ride-hailing drivers in Lagos. Since then, it has evolved into a global mobility infrastructure company operating approximately 42,000 vehicles across 29 cities in 13 countries, generating annual recurring revenue of about $420 million. The company has shifted its focus toward autonomous mobility through its partnership with Waymo, Google’s self-driving technology company. Moove now manages autonomous vehicle fleets for Waymo in Phoenix and Miami, with operations also planned for London. According to the company, the new capital reflects growing investor confidence that autonomous transportation will require more than self-driving software alone. It said large-scale deployment depends on fleet ownership, charging infrastructure, maintenance facilities and around-the-clock operational management. “As autonomous mobility moves from experimentation to commercial deployment, we’re building the infrastructure layer that enables it to operate at scale,” the company said in a statement. Moove expects to more than triple its autonomous vehicle workforce this year, increasing the team from about 150 employees to roughly 500 as deployments expand globally. The fundraising comes amid rising global investment in autonomous driving technologies,
Key Points - Uber shares are down 20% this year. - The company is chasing a $10 trillion opportunity. From a stock price perspective, Uber Technologies(NYSE:UBER) has struggled this year. Shares are down 20% year-to-date. From a business perspective, however, things seem to be going quite well. The company reported earnings on Aug. 5, and many experts were impressed by the results. Gross bookings surged 22% year-over-year. The number of trips, meanwhile, grew by 18%, suggesting Uber has been able to flex some pricing power. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Most impressively, Uber was able to post roughly $2 billion in operating income, up 40% versus the year prior. That income translated to diluted earnings per share of $1.17. Uber struggled to achieve profitability in its early years. But the company has been consistently profitable over the last two years. Uber’s core business isn’t very capital intensive. Its drivers are typically the ones purchasing and maintaining their equipment. That has allowed higher earnings to translate into higher cash flows. “[T]railing twelve-month free cash flow exceeded $10 billion for the first time in Uber’s history,” Uber announced, “giving us the flexibility to both invest for the future and pursue strategic opportunities, while continuing to reduce our share count.” Where exactly will Uber be investing its new cash? There’s one obvious answer: robotaxis. Can Uber dominate the robotaxi market? I have long been a fan of Tesla’s (NASDAQ:TSLA) robotaxi ambitions. A growing number of experts believe that robotaxis will be a multi-trillion-dollar market. Some even believe the global market will one day be worth $10 trillion. Tesla not only has impressive access to capital, but
Autonomous vehicles promise to radically change the way people and goods travel. However, AVs won’t reach their full potential through engineering alone. The greatest breakthroughs will come from interdisciplinary teams solving complex challenges together. Michigan State University serves as a hub where experts across fields collaborate to advance mobility innovation. “Interdisciplinary research isn’t just a catchphrase for us,” said Judd Herzer, MSU Mobility director. “Our approach is distinctive because our campuswide network of engineers, business leaders, legal scholars and social scientists work together from the outset. This ensures new technologies are technically possible as well as scalable, economically viable, safe, trusted and ready for deployment by stakeholders in the real world.” Meet five Michigan State University researchers — three in engineering, one in business and one in law — whose expertise in data collection, generative AI and policy analysis is delivering tangible mobility solutions. AVs already have sophisticated systems that collect data and perceive their environment. The next challenge is interpreting that information. Shaunak Bopardikar, associate professor in the Department of Electrical and Computer Engineering, uses simulated autonomous racing competitions to explore how self-driving vehicles make coordinated decisions based on what they know about each other. This work is notable because instead of combining multiple goals into a single score using weighted averages, Bopardikar developed a new method that keeps each goal separate during decision-making. This allows the algorithm to find solutions where each participant has a clear best choice and no one can improve their outcome at another’s expense. “Imagine a self-driving vehicle trying to reach its destination quickly while maintaining a safe distance from other vehicles,” Bopardikar said. “Existing methods combine these goals into a single score. Our approach treats safety as a requirement rather than a preference, allowing us to test AVs closer to their performance limits
Uber Technologies on Wednesday outlined plans to spend more than US$10 billion on robotaxis over the coming years and said Waymo remained an important partner despite reports that the Alphabet unit was considering ending their alliance. Shares of the ride-hailing company fell 4.8 per cent after the company forecast adjusted profit per share of 84 cents to 88 cents for the third quarter, below analysts’ expectations of 89 cents, according to data compiled by LSEG. The company said on Wednesday the investments in robotaxis would largely comprise equity investments in autonomous-driving partners and balance-sheet support for fleet operations and vehicle commitments. Uber CEO Dara Khosrowshahi, on a conference call with analysts, brushed off reports of Waymo considering ending their partnership, saying he expected the companies to continue operating together in Austin and Atlanta, while the ride-hailing company expanded ties with other autonomous vehicle developers. The global ride-hailing and delivery giant’s capital allocation has become a key investor focus after it announced a US$14.8-billion deal for Delivery Hero DHER.DE last month. “The US$10 billion investment figure is in line with my own thinking,” said Adam Ballantyne, senior analyst at Uber shareholder Cambiar Investors, adding Uber would need billions of dollars over the next four to five years to support autonomous-driving partners as they scale. It forecast third-quarter gross bookings of US$58.25 billion to US$60.25 billion, broadly in line with analysts’ expectations of US$59.21 billion, according to data compiled by LSEG. Foreign exchange is expected to trim reported third-quarter gross bookings growth by about one percentage point from last year, the company said, after boosting growth over the previous four quarters. Uber’s second-quarter gross bookings of US$58.02 billion topped analysts’ estimates of US$57.06 billion, while adjusted core earnings also exceeded expectations. The business benefited from broad-based demand across regions and services during
On a cold morning in Dallas shortly before Christmas last year, CEO Colin Webb watched one of his robots work an eight-hour shift alongside warehouse workers. The wheeled machine, equipped with two robotic arms, spent the day packing beauty products into pouches as part of a pilot. A few miles away, a person inside an Airbnb controlled its every move using a Meta Quest headset. The shift tested the unconventional model behind Webb's startup, Avatar Robotics. Rather than waiting for robots to become autonomous, the company puts them to work in warehouses, packing and sorting products under the control of teleoperators, who puppeteer their movements through headsets and handheld controllers. The San Francisco startup announced Wednesday that it has raised a $6.5 million seed round led by AlleyCorp and Defy.vc, Headline, and Henry Ford III, among others. It said its robots have packed nearly 1 million items since its launch in December and operate across several warehouse facilities. Avatar does not sell its robots directly. Instead, it charges customers a recurring fee that Webb said is less than the cost of hiring warehouse workers directly. That's because many of its teleoperators are contractors based in Mexico, Colombia, and the Philippines, earning between $5 and $20 an hour depending on their location. Customers know the machines are remote workers in robotic bodies, Webb said. There's a bigger prize buried in this arrangement. As investors pour billions into "physical AI" — systems built to act in the real world — robotics companies are scrambling for real-world data needed to train the "brains" behind them. Startups, including microagi, Turing, and micro1, already pay people to record themselves performing tasks such as cleaning homes and cooking meals. Avatar's operators generate that data while performing work for paying customers. Every teleoperation session captures what the
From a stock price perspective, Uber Technologies (UBER -5.29%) has struggled this year. Shares are down 20% year-to-date. From a business perspective, however, things seem to be going quite well. The company reported earnings on Aug. 5, and many experts were impressed by the results. Gross bookings surged 22% year-over-year. The number of trips, meanwhile, grew by 18%, suggesting Uber has been able to flex some pricing power. Most impressively, Uber was able to post roughly $2 billion in operating income, up 40% versus the year prior. That income translated to diluted earnings per share of $1.17. Uber struggled to achieve profitability in its early years. But the company has been consistently profitable over the last two years. Uber’s core business isn’t very capital intensive. Its drivers are typically the ones purchasing and maintaining their equipment. That has allowed higher earnings to translate into higher cash flows. “[T]railing twelve-month free cash flow exceeded $10 billion for the first time in Uber’s history,” Uber announced, “giving us the flexibility to both invest for the future and pursue strategic opportunities, while continuing to reduce our share count.” Where exactly will Uber be investing its new cash? There’s one obvious answer: robotaxis. NYSE: UBER Key Data Points Can Uber dominate the robotaxi market? I have long been a fan of Tesla’s (TSLA -1.77%) robotaxi ambitions. A growing number of experts believe that robotaxis will be a multi-trillion-dollar market. Some even believe the global market will one day be worth $10 trillion. Tesla not only has impressive access to capital, but it also has the ability to manufacture its own self-driving vehicles. For now, Uber does not share all of these advantages. While profitable with positive cash flows, Uber is just 13% the size of Tesla That limits its relative ability to raise capital.
Uber $UBER Technologies and Wayve secured regulatory approval to offer supervised autonomous rides in London, after Transport for London granted private-hire vehicle licenses to a number of Wayve's autonomous vehicles on Wednesday. The licensed vehicles are all-electric Ford $F Mustang Mach-E cars equipped with Wayve's AI Driver system and surround cameras and radar, the companies said. Each trip will include a trained and TfL-licensed private-hire driver onboard to monitor the ride and take control if needed. The vehicle licenses complete what the companies describe as a "triple-lock" requirement for private-hire trips, under which the operator, driver, and vehicle must each hold licenses from the same licensing authority. Trips will operate under the U.K. government's AV Trialling Code of Practice and Uber's existing TfL private-hire operator license. Select riders who registered on Uber's interest list will be invited to take early trips later this summer, with a full public launch to follow. More than 100,000 Londoners have signed up to the interest list over the past eight weeks, the companies said. "This licence is a key milestone in bringing autonomous rides to London on Uber," Annie Duvnjak, Uber's global head of autonomous mobility operations, said in a statement. "Our interest list has seen an incredible response from Londoners who are excited to experience Wayve's British-built autonomous driving technology." Sarah Gates, Wayve's VP of global affairs and assurance, said in a statement that the approval moves the company closer to "safer, cleaner and quieter streets" and reflects continued collaboration with regulators and communities. Wayve, founded in 2017, has been testing its autonomous driving technology on London roads since 2018 and says its system has demonstrated adaptability across more than 500 cities worldwide, according to the company. Unlike some autonomous vehicle systems that rely on high-definition maps or fixed geographic zones, Wayve's approach
Autonomous vehicle technology developer Oxa and Dubai Future Foundation (DFF) have announced the launch of launch of SHIFFT. SHIFFT is joint venture that will establish Dubai as a global hub for autonomous logistics and will incorporate self-driving technology into a fully integrated autonomous logistics and worksite intelligence product. The partnership hopes that this will enable end-to-end operational deployment and unlock productivity, efficiency and safety gains for customers. SHIFFT will launch its first scalable commercial deployment in Dubai before the end of 2027, with the focus of the joint venture on putting autonomous vehicles to work in ports and airports. The autonomous systems deployed by SHIFFT will utilise Oxa’s configurable self-driving software, Oxa Driver, paired with Oxa’s cloud-based fleet management software, Oxa Hub. Oxa’s autonomy hardware systems will also be utilised, which are designed to integrate with existing vehicle fleets. Reportedly, SHIFFT forms an integral part of Dubai’s Research, Development, and Innovation (RDI) Programme, launched in November 2024 by DFF, which aims to boost the knowledge-based economy, create high-tech jobs, and establish Dubai as a regional R&D hub. DFF’s RDI Ecosystem chief Khalifa Al Qama said: “To achieve Dubai’s ambition of doubling foreign trade by 2033, we must continue to develop and deploy solutions that strengthen the speed, efficiency and resilience of our logistics sector. “SHIFFT reflects the purpose of the Dubai RDI Programme – bringing together global expertise and local capabilities to develop commercially viable solutions with real-world impact. “Through this joint venture, we are advancing autonomous mobility, creating new economic opportunities and strengthening Dubai’s position as a global hub for the future of logistics.” IntraLogisteX 2026 takes place on 17-18 March 2027 at the NEC Birmingham. For exhibitor information and visitor registration, visit the official event website at www.intralogistex.co.uk
- Moove, founded by Ladi Delano and Jide Odunsi in 2020, has reached a $2.1 billion valuation after raising $250 million in a Series C round, making it Africa’s latest tech unicorn. - The funding round was led by Mubadala Investment Company and included major investors such as Toyota's Woven Capital, Ion Pacific, BlackRock, and Uber. - Moove plans to use the capital to expand its autonomous vehicle division, acquire autonomous fleets, build robotics-focused depot facilities, and increase its workforce to 500 staff. - Originally solving vehicle financing for African ride-hailing drivers, Moove uses a revenue-based repayment model and has since grown rapidly across multiple continents. Last year, reports indicated that Moove, a vehicle financing startup that serves Nigerian drivers, led by British-Nigerian entrepreneur Ladi Delano, was gunning for the seemingly elusive unicorn status. DON’T MISS THIS: One of Africa’s largest fintechs is leveling the business playing field between men and women in Nigeria After raising $250 million in a Series C round, augmenting the company’s valuation to $2.1 billion, Moove has cemented itself as Africa’s latest unicorn. As seen on Condia, the funding was led by Mubadala Investment Company, alongside Woven Capital, Toyota's growth fund, and Ion Pacific. Together with existing investors including BlackRock, MUFG, Franklin Templeton, and Uber, new participation was secured from BlueCrest Capital Management, Sona Asset Management, and The Raptor Group. The allocated capital will be utilized to expand Moove's autonomous vehicle division. This move involves the acquisition of autonomous fleets and the establishment of "Nests," which are robotics-centric depot facilities dedicated to the charging, maintenance, and repair of self-driving vehicles. Concurrently, Moove intends to expand its autonomous vehicle workforce by approximately 220%, increasing the headcount from roughly 150 to 500 personnel by the end of the year. Moove’s ascent to unicorn status In 2020, Nigerian
Gridlock across the Dallas-Fort Worth metroplex could become significantly easier to navigate in the coming decades—and regional planners might not even need to lay new highway pavement to achieve it. A new study led by SMU civil and environmental engineering professor Khaled Abdelghany suggests that the widespread adoption of connected and autonomous vehicles (CAVs) will dramatically improve North Texas commute times by 2045. Smother Traffic, Not Just More Lanes Traffic jams aren't caused strictly by the volume of cars on the road; stop-and-go driving habits, sudden braking, and speed fluctuations cripple road efficiency. Autonomous vehicles eliminate much of that human variability. "Traffic congestion is often driven not only by high demand but also by speed variability and stop-and-go behavior, which reduce flow efficiency," explains Abdelghany, a fellow at the Stephanie and Hunter Hunt Institute for Engineering and Humanity. "Autonomous vehicles may help mitigate these effects through smoother and more coordinated driving." Inside the Study: 25 Scenarios Tested To evaluate how self-driving technology could handle North Texas traffic demands, Abdelghany’s team collaborated with Behruz Paschai (Texas Transportation Institute) and Abby Morgan (Kittelson & Associates, Inc.). Using the Transportation Analytical Forecasting Tool (TAFT)—an advanced regional model developed by the North Central Texas Council of Governments (NCTCOG) covering 13 DFW counties—the researchers ran 25 distinct experiments across corridors like U.S. 75 and Interstate 635. They benchmarked adoption rates at 25%, 50%, and 100% against a projected 2045 baseline assuming zero autonomous vehicles. The study explored three key dynamics: - Varying market penetration of driverless vehicles. - Real-time vehicle-to-infrastructure (V2I) communication between cars and traffic signals. - Commuter relocation patterns enabled by hands-free driving. Key Findings by 2045 Published in the Journal of Urban Technology, the study highlights several major takeaways for DFW commuters: - 33% Drop in Delays: Reaching 100% autonomous vehicle adoption
Moove today announced it raised $250 million in Series C funding. This latest round brings the company’s valuation to $2.1 billion. The funding will support Moove’s expansion of its autonomous vehicle business, including autonomous fleet ownership and robotics-first depot infrastructure “Nests.” At these Nests, Moove will charge, service, maintain, and orchestrate autonomous fleets for continuous operation. Additionally, Moove plans to use the funds to support new market launches around the world. As part of this expansion, Moove expects to grow its autonomous vehicle workforce by more than 220% by the end of the year, increasing from around 150 employees today to 500. “Every major technology revolution becomes an infrastructure race,” Ladi Delano, the co-founder, co-CEO and advisory board chairman of Moove, said. “The internet required data centers. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city – and that is what Moove is building. In our view, as autonomy scales, infrastructure ownership and operations will define the category leaders. We are building to be one of them.” Mubadala Investment Company, Woven Capital, Toyota’s Growth Fund, and Ion Pacific led the round. It also brings in BlueCrest Capital Management, Sona Asset Management, and The Raptor Group, further strengthening the depth of Moove’s institutional backing. BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures, Endeavor Catalyst, and the Ontario Power Generation Pension Plan also participated in the round. For AVs to scale to a large transportation network, they need infrastructure Scaling autonomous mobility requires more than vehicle technology alone. It depends on access to capital, fleet ownership, charging infrastructure, maintenance, operational orchestration systems, and 24/7 city-level execution. Moove is building that infrastructure layer to enable autonomous mobility to scale to large transportation networks. Since 2020, Moove has built the capital,
Nearly a year ago, Zoox opened its robotaxi service to the public in Las Vegas. Now, it is ready to start charging for those rides. The Amazon-owned autonomous vehicle technology company said that it will start charging for rides in Las Vegas starting August 10, marking the launch of its commercial operations. The company has spent years working toward this moment. The Silicon Valley startup was founded in 2014 with a plan to develop a custom-built electric vehicle and the self-driving stack that would drive it, as well as an on-demand ridesharing app. The company was acquired by Amazon in 2020, and later that year unveiled its robotaxi, a cube-like vehicle equipped with a self-driving system, loads of sensors, and a moonroof, but no steering wheel or pedals. Zoox has spent the past six years testing the vehicle and updating the hardware. Zoox has faced a number of hurdles over its 12 years, spanning funding, technical development, securing the proper permits for testing, and even several recalls. One major obstacle was lifted last week when federal safety regulators gave Zoox a temporary exemption from certain federal motor vehicle safety standards. The exemption, issued by the National Highway Traffic Safety Administration (NHTSA), allows the company to charge customers for rides in its robotaxis. Because Zoox vehicles lack many of the traditional controls required under federal law, it needed an exemption in order to operate. Zoox received an exemption last year that allowed it to demonstrate its robotaxis, but not charge. The commercial exemption, which lasts two years and allows Zoox to deploy up to 2,500 vehicles, spans eight federal motor vehicle standards, including windshield defrosting and light vehicle braking systems. The startup also offers robotaxis in other markets, such as San Francisco and Austin, but it will have to offer them
China introduced on Tuesday its first mandatory national safety standards for advanced autonomous vehicles, requiring automakers to build end-to-end safety systems before deploying Level 3 and Level 4 self-driving technologies on roads. The Ministry of Industry and Information Technology said the new standard on safety requirements for automated driving systems of intelligent connected vehicles will take effect on July 1. ALSO READ: Testing out the future of transport The move comes as global automakers and technology companies race to bring autonomous driving from testing grounds into everyday transportation. China granted conditional access approval to two L3 autonomous driving vehicle models in 2025, marking an early step toward broader commercial deployment. Under the new standard, automakers will be required to establish full-lifecycle safety management covering vehicle design, development, manufacturing and post-deployment operation. Companies must implement risk management systems, conduct simulation tests, closed-course testing and real-world road trials before deploying autonomous driving functions. READ MORE: China strengthens role in autonomous driving standards The standard also introduces clearer requirements for human-machine interaction, an issue that has become increasingly important as drivers shift between automated and manual control. For L3 vehicles, manufacturers must equip systems with the ability to monitor whether drivers are ready and able to take over when required. Companies must also clearly inform users about the vehicle's automation level, operational boundaries, limitations and responsibilities through user manuals, websites and in-vehicle displays.
Lucid Motors said Tuesday that its “operational reset” will focus on $1.4 billion in cash reductions along with three other “must win” and potential money-making priorities that include robotaxis, its factory in Saudi Arabia, and launching a mid-sized electric vehicle. But that mid-sized vehicle, which is supposed to start at under $50,000, is now delayed until next year. It was supposed to start shipping by the end of 2026. “Our objective is clear: Mid-size will launch only when every process and quality requirement have been met,” Lucid’s new CEO Silvio Napoli said on a conference call Tuesday. “We will not repeat the mistakes of the past by bringing a product to market before it is ready.” The turnaround plan, led by Napoli, aims to pull Lucid out of its spiral of growing EV inventory and unchecked spending. To reach that $1.4 billion in cash savings, Lucid said it will reduce capital expenditures by $500 million and projected savings of between $600 million and $800 million in inventory, according to its second-quarter earnings statement. The company said it will also reduce operating expenses by $200 million. The effort, if successful, will provide sufficient liquidity runway well into 2027, Napoli said during Tuesday’s earnings call with investors. Napoli didn’t mince words during his first quarterly earnings call as CEO. “The way we operate has to change,” he said. “While there is no question that Lucid brought leading innovations and outstanding products to the market, we have disappointed on several fronts, and for far too long. We have not executed consistently, we miss commitments, launched products before they were ready, underinvested in service, responded too slowly to quality issues, and allowed complexity to slow decisions down.” Napoli has already set some of this plan in motion. The company has shaken up its leadership
South Korean physical artificial intelligence (AI) company Autonomous A2Z Co. said on Tuesday that it has signed an 11 billion won ($7.69 million) autonomous driving export contract with Space42 PLC, an AI company based in the United Arab Emirates. Under the agreement, the two companies will collaborate on a Smart Mobility Convergence Project to convert vehicles and expand services for TXAI, an autonomous driving service operated by Space42 in the UAE. The contract, valued at 27.91 million dirhams (about 11 billion won), is a direct supply agreement separate from a UAE joint venture previously established by the two companies. As part of the deal, Space42 will replace all of the Chinese-made autonomous vehicles currently used for its TXAI service with vehicles supplied by Autonomous A2Z. The supply includes a total of 19 autonomous vehicles: eight ROii Level 4 driverless roboshuttles developed by Autonomous A2Z, five autonomous vehicles based on Kia Corp.’s PV5 platform, five based on the Kia Carnival, and one based on a MAN bus. The ROii vehicles will be manufactured in Korea and shipped to the UAE as completed vehicles in the second half of this year, while the remaining vehicles will be procured locally and converted into autonomous vehicles. Autonomous A2Z’s full-stack capabilities—including autonomous driving technology, fleet management, and service operations—will be integrated into the TXAI service. Autonomous A2Z plans to build an integrated operations infrastructure, including a control system and remote-control cockpit, and enhance operations by linking the supplied vehicles with Space42’s application to provide ride-hailing services. Some of the vehicles will begin pilot roboshuttle operations on Saadiyat Island and Yas Island in Abu Dhabi in the second half of this year. The deployment schedule for the autonomous bus has yet to be determined. After validating local road conditions and customer demand, the service is expected