Uber (UBER) Soars 3.27% on EV, Autonomous Ride-Hailing Push

Uber Technologies' stock rose 3.27% in pre-market trading on June 24, 2025, reflecting investor optimism amidst significant developments in the company's electric vehicle (EV) transition and autonomous ride-hailing services.

Uber's push to convert its driver fleet to electric vehicles has reached a critical juncture. The company's latest survey indicates that cost is no longer the primary barrier for drivers in the U.S. and UK to switch to EVs. However, charging infrastructure remains a significant challenge, particularly for drivers without access to home charging solutions. Uber is addressing this by accelerating the deployment of charging stations in key cities, including London, Boston, and Phoenix, and has developed tools to predict and optimize charging infrastructure needs.

Uber's strategic investments in charging infrastructure are yielding results, with a 60% increase in active EV drivers on its platform since the beginning of the year. The company's proactive approach to EV adoption and charging solutions is expected to drive further growth in its EV fleet and enhance its competitive position in the ride-hailing market.

In addition to its EV initiatives, Uber has expanded its autonomous ride-hailing services in partnership with Waymo. The companies have launched a driverless ride-hailing service in Atlanta, following a successful rollout in Austin, Texas. This expansion is part of Uber's broader strategy to integrate autonomous technology into its ride-hailing services, aiming to enhance efficiency and reduce operational costs. The service in Atlanta covers 65 square miles and features Waymo's all-electric Jaguar I-PACE vehicles, marking a significant milestone in the commercialization of autonomous ride-hailing.