Uber is preparing to invest more than $10 billion into autonomous vehicle technology and robotaxi fleets, marking a significant departure from its traditional asset-light business model, according to a report from the Financial Times. The strategy reflects an effort to stay competitive as driverless transportation gains momentum across the industry.

The reported plan includes both direct investment in autonomous vehicle developers and large-scale spending to build out robotaxi fleets. Analysts cited in the report estimate Uber could allocate more than $7.5 billion toward vehicles while committing over $2.5 billion in equity stakes in partner companies.

Rather than developing its own vehicles independently, Uber is positioning itself as a platform connecting multiple autonomous vehicle operators. The company has already established partnerships with firms including Baidu, Rivian, and Lucid Motors, as it builds out its network.

Uber has outlined plans to launch robotaxi services in at least 28 cities by 2028, with many of its agreements tied to deployment milestones that partners must meet before full investment is realized.

The shift represents a notable change from Uber’s long-standing reliance on independent drivers, which allowed the company to scale rapidly without owning vehicles. Moving into fleet ownership and deeper investment in technology introduces higher capital costs but could provide greater control over operations and long-term margins.

Interest in autonomous vehicles has accelerated in recent months, driven by advances in artificial intelligence and renewed optimism that technical challenges can be overcome. Companies across the sector are racing to deploy viable robotaxi services while managing high development costs and regulatory hurdles.

Uber has not publicly confirmed the reported figures, and Reuters said it could not independently verify the details. Still, the scale of the reported investment underscores the growing importance of autonomous transportation in the future of the ride-hailing industry.