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Uber, Cruise partner to bring self-driving vehicles to ride-hailing platform

Investing.com -- Uber Technologies and Cruise, a subsidiary of General Motors, announced Thursday a multiyear partnership under which the latter's self-driving vehicles will be launched on Uber's ride-hailing platform.

The companies plan to launch the service next year, starting with a select number of Chevrolet Bolt-based self-driving cars. Uber riders requesting eligible trips may be offered the option to ride in a Cruise driverless vehicle.

Uber Technologies Inc (NYSE:UBER) was down 3%, while General Motors Company (NYSE:GM) was up more than 1% in afterhours trading following the news. 

Uber Chief Executive Dara Khosrowshahi said the company aims to "play an important role in helping to safely and reliably introduce autonomous technology to consumers and cities around the world."

The partnership comes as Tesla (NASDAQ:TSLA) threatens to ramp up ride-sharing competition, with the launch of purpose-built "robotaxis." Tesla CEO Elon Musk is expected to unveil a prototype of a Tesla robotaxi on Oct. 10, 2024. 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.