Shares of Uber Technologies (UBER) were on an upswing in trading on Friday after the ride-hailing service announced the expansion of its partnership with Waymo. Waymo is Google’s (GOOGL) robotaxi service.
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Uber Expands Waymo Partnership to New Cities
As a part of this collaboration, Waymo and Uber will expand their robotaxi partnership to two new cities including Austin, Texas, and Atlanta, Georgia, starting in early 2025. After collaborating in Phoenix, Arizona, the two companies are now broadening their partnership to these new cities.
Consequently, Waymo’s robotaxis will be available exclusively through Uber’s app in Austin and Atlanta. As a result, Waymo’s own ridehail app, Waymo One, will not operate in these cities.
Additionally, Uber will manage fleet operations, including vehicle cleaning, repairs, and other depot functions. Both companies will share costs and revenue, although the specifics of this split were not disclosed.
What Is the Uber Stock Prediction?
Analysts remain bullish about UBER stock, with a Strong Buy consensus rating based on 31 Buys and one Hold. Over the past year, UBER has surged by more than 45%, and the average UBER price target of $87.93 implies an upside potential of 21.8% from current levels.
