TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
Investing.com -- Uber Technologies, Inc. (NYSE:UBER) stock rose 1% in premarket trading Tuesday after announcing a multi-year strategic partnership with Chinese tech giant Baidu, Inc. (NASDAQ:BIDU) to deploy autonomous vehicles on Uber’s platform in international markets.
The collaboration will see thousands of Baidu’s Apollo Go self-driving vehicles integrated into Uber’s network across multiple global markets outside the U.S. and mainland China. Initial deployments are expected in Asia and the Middle East later this year, with the first markets likely to include Dubai and Abu Dhabi, where Apollo Go already operates.
Under the agreement, riders requesting qualifying Uber trips may be offered the option to have their journey fulfilled by a fully driverless Apollo Go autonomous vehicle. The partnership aims to increase the supply of affordable and reliable ridesharing options by leveraging Baidu’s autonomous driving technology on Uber’s extensive network.
Apollo Go currently operates a fleet of over 1,000 fully driverless vehicles across 15 cities globally. The service has provided more than 11 million cumulative rides to the public as of May, according to the companies.
"This partnership brings together two of the world’s most iconic technology companies to help shape the future of mobility," said Dara Khosrowshahi, CEO of Uber. "As the world’s largest platform of its kind, spanning mobility, delivery, and freight, Uber is uniquely positioned to help AV leaders like Baidu bring their autonomous technology to the world."
Baidu CEO Robin Li called the partnership "a major milestone in deploying our technology on a global scale."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.