Addition to the layout of the autonomous driving infrastructure, Uber Technologies, Inc. (UBER.US) is investing $100 million to build its own fast charging stations.

Uber Technologies, Inc. (UBER.US) plans to invest over $100 million in building autonomous vehicle fast-charging stations in the United States. This is the latest move the company has taken to establish itself as a key player in the self-driving taxi industry. In a statement on Wednesday, the company said it will focus on building these new high-capacity charging hubs in the San Francisco Bay Area, Los Angeles, and Dallas. In these markets, Uber Technologies, Inc. also plans to launch a public autonomous taxi service in partnership with technology partners to compete with Alphabet's Waymo. A spokesperson stated that the funds will cover site development costs, equipment, grid connections, and related capital expenditures for developing charging infrastructure. Uber Technologies, Inc. stated in the announcement that owning some of the charging stations "can improve efficiency, reduce costs, and extend vehicle on-road time, thereby maximizing utilization and operating hours." As autonomous vehicles become increasingly popular, this ride-sharing giant is working to address Wall Street's doubts about the future prospects of its human-driven ride-sharing platform. Uber Technologies, Inc. is increasing its investments to become a leading supplier and operating partner of autonomous taxi service in the self-driving technology development industry. Based in San Francisco, Uber Technologies, Inc. has invested hundreds of millions of dollars in autonomous driving companies such as Lucid Motors, Nuro, Wayve Technologies, and fleet management companies like Moove and Avomo. Some agreements also include commitments from Uber Technologies, Inc. to purchase fleets of autonomous taxis and eventually launch them on its mainstream ride-hailing platform. Uber Technologies, Inc.'s autonomous driving strategy has received mixed reactions from investors, with the company's stock price down 14% so far this year. As other operators like Waymo expand their services to the public this year, more pessimistic analysts still believe that the valuations of Uber Technologies, Inc. and its rival Lyft will continue to shrink. Uber Technologies, Inc. remains optimistic. The company expects to offer autonomous vehicle service through the Uber Technologies, Inc. app in at least 10 cities by the end of 2026. Specifically, the company plans to launch Lucid and Nuro autonomous taxis on its platform in the Bay Area this year, and introduce Volkswagen's autonomous cargo vans in Los Angeles. In Austin and Atlanta, Uber Technologies, Inc. is partnering with Waymo to provide autonomous services and is responsible for on-site vehicle management, including charging, cleaning, and inspecting vehicles through third-party companies it has invested in. An Uber Technologies, Inc. spokesperson declined to comment on whether Waymo will use the charging stations being built in the Bay Area, Los Angeles, and Dallas, only stating that these stations are designed specifically for Uber Technologies, Inc. network vehicles (Waymo provides services in the Bay Area and Los Angeles through its own app rather than the Uber Technologies, Inc. platform). On Wednesday, Uber Technologies, Inc. also announced new agreements with charging operators to enhance the charging convenience for its electric ride-hailing drivers. The company promised partner operators guaranteed utilization - meaning if Uber Technologies, Inc. drivers do not reach a certain level of usage, Uber Technologies, Inc. will pay fines. The spokesperson said this will help operators add over 1,000 charging stations globally. The new agreement partners include EVgo in New York, Los Angeles, San Francisco, and Boston, Hubber Limited and Ionity Limited in London, and Electra in Paris and Madrid. Uber Technologies, Inc. had previously reached a similar agreement with Revel Transit in New York, where Revel incentivizes Uber Technologies, Inc. drivers to use their services by offering charging discounts. This move marks a shift in Uber Technologies, Inc.'s electric vehicle-related investment strategy as the company is trying to catch up to its lagging green goals. Last year, a survey found that as electric vehicle prices drop, drivers' concerns about charging convenience have surpassed concerns about vehicle purchase costs, prompting Uber Technologies, Inc. to adjust its spending strategy. In December last year, Uber Technologies, Inc. discontinued monthly rewards for electric drivers and instead began providing one-time subsidies for drivers transitioning from non-electric vehicles.