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Deals with autonomous vehicle players have offered EV makers a lifeline amid a slump in consumer sales. 

Why it matters: The autonomous vehicle industry has returned to life. 

Driving the news: Uber says it plans to invest up to $1.25 billion (with an initial $300 million) into EV maker Rivian as part of a plan to deploy thousands of electric robotaxis across 25 cities starting in 2028.

Uber has other autonomous deals in the works, including investing $300 million into EV maker Lucid and deploying 20,000 of Lucid's Gravity SUV, plus deals with Nuro and Travis Kalanick's Atoms. 

Reality check: The capital needs and cash burn of independent EV makers is massive. 

Amid the SEC filing announcing the Uber deal, Rivian quietly abandoned its 2027 profitability target: "The Company no longer expects to be adjusted EBITDA positive in 2027 due to an expected increase in R&D spend associated with the acceleration of its autonomy roadmap."

Lucid, likewise, is struggling to get to profitability and even slashed its workforce last month.

Tesla has historically faced the same pressures and is now betting its future on robotics and autonomous vehicles. 

By the numbers: Waymo, which uses EVs, surpassed 1 million rides a month last year and is aiming for 1 million rides per week by the end of 2026. 

What they're saying: "The self-driving wave is happening, and those will be electric," said the CEO of next-gen battery maker QuantumScape, Siva Sivaram, recently during a tour of the company's battery production line. 

Flashback: Only a few years ago, the market trajectories for robotaxis and consumer EVs were inverted. 

The bottom line: Autonomous deals are helping EV makers through a challenging year. 

Autonomous driving pushes EV deals amid slump

The autonomous vehicle industry is booming, while automakers cut EV plans

Illustration of a robot's hand pushing a toy taxi.

Deals with autonomous vehicle players have offered EV makers a lifeline amid a slump in consumer sales. Why it matters: The autonomous vehicle industry has returned to life.

Autonomous driving pushes EV deals amid slump

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