Sky News reported that the bulk of the job losses would be in the European country and would primarily affect non-production staff.

The company’s immediate financial objective is to reduce its annual break-even point to about 300,000 vehicles. That target is close to the roughly 307,900 vehicles JLR produced in 2025, highlighting how sharply management wants to reduce the volume required to cover its costs.

JLR’s announcement comes after a particularly difficult year for the manufacturer. Its annual profit before tax and exceptional items plunged to just 14 million pound in the year to March 2026, from 2.5 billion pound a year earlier.

US tariffs, weaker demand in key markets, and the aftermath of a significant cyberattack that disrupted production have all impacted the company.

The cyberattack was particularly damaging. The disruption contributed to a 27% fall in overall production and cost the company about 200 million pound, according to the Guardian.

The incident came at a time when JLR was already dealing with an increasingly complicated operating environment, including the cost of transitioning to electric vehicles and weaker demand in several major markets.

US trade policy has added another layer of pressure. America is an important market for JLR, particularly for its high-margin Range Rover and Defender models.

The company has been dealing with higher import costs following the tariffs imposed by US President Donald Trump, putting further pressure on margins.

At the same time, JLR faces a competitive threat from Chinese manufacturers that have moved rapidly up the global automotive value chain. Chinese brands are increasingly competing with established European and Japanese manufacturers on price, technology and electric vehicles.

The pressure is particularly visible in the United Kingdom. Chinese models such as the Jaecoo 7 have gained traction in the British market, illustrating how quickly new competitors can establish themselves. Reuters has highlighted the growing challenge from Chinese brands as one of the factors weighing on JLR’s sales.

China itself has also become a difficult market for established luxury manufacturers. JLR has previously reported weaker volumes there, while the rapid expansion of domestic Chinese electric vehicle makers has made the market substantially more competitive.

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The job cuts, nevertheless, come alongside a substantial investment programme.

JLR plans to invest between 15 billion pound and 18 billion pound over the next five years in electrification, digital technologies, advanced manufacturing and improvements to customer experience. It also plans to introduce five new products over the next 12 months.

That combination—cutting jobs while committing billions of pounds to future products—reflects the central challenge facing traditional carmakers.

JLR needs to become leaner while simultaneously spending heavily to remain competitive during the industry’s transition from internal combustion engines to electric vehicles.

The company has already been reshaping its product strategy. Its electrification push forms a central part of its longer-term plans, while the revival of the Freelander name through a partnership in China is intended to give JLR access to a broader electric-vehicle market.

JLR’s 2025 annual report said the new Freelander range would initially be launched in China, the world’s largest EV market, with potential for wider expansion.

Chief Executive PB Balaji, who previously served as Tata Motors’ finance chief, leads the latest restructuring.

His task is to restore financial resilience while protecting the premium positioning of JLR’s brands.

For Tata Motors, the restructuring comes at a sensitive point. JLR is the group’s flagship global luxury automotive business, and its performance has a direct bearing on the Indian parent’s financial results and investment plans.

The UK government is also watching the restructuring closely because of JLR’s importance to the country’s manufacturing base and supply chain.

Business Minister Jonathan Reynolds is due to meet Balaji to discuss the job reductions. The government has previously backed a 1.5 billion pound loan guarantee for JLR, but ministers have ruled out a direct bailout as the company undertakes the latest restructuring.

Unions, meanwhile, have warned against workers bearing the cost of JLR’s financial difficulties.

The cuts are likely to intensify debate over the future of Britain’s automotive manufacturing sector at a time when the industry is pressured from higher energy and production costs, trade barriers and the expensive transition to electric vehicles.

For JLR, however, management’s calculation is clear: the company needs a substantially lower cost base if it is to protect its luxury brands and finance its next generation of vehicles.

The 1.7 billion pound savings target is therefore more than a conventional restructuring exercise. It is an attempt to reset the economics of the business.

By lowering its break-even point to 300,000 vehicles, JLR is seeking to become less dependent on high production volumes and better able to withstand downturns in global demand.

The test will be whether the savings can be achieved without weakening the company’s ability to develop the products needed for the next phase of the automotive industry.

JLR’s decision to cut thousands of jobs while maintaining billions of pounds in investment suggests that management sees cost discipline and technological investment as two sides of the same strategy.

The company is betting that a leaner organisation, a refreshed product range and greater focus on electrification can restore the profitability that has been eroded by tariffs, disruption and intensifying competition.

Those two events, hours apart, tell you most of what you need to know about where Tesla sits in the robotaxi race.

The Cybercab is the first vehicle Tesla has built specifically for driverless work. It seats two, opens with upward-swinging butterfly doors, wears a distinctive gold paint job and carries no steering wheel, no pedals and no mirrors.

Tesla has fitted Starlink hardware for connectivity and a large central screen, and has been selling the car as a lounge on wheels rather than a taxi.

Chief executive Elon Musk has framed it as the product that turns Tesla from a carmaker with slowing sales into an autonomy company.

A very small beginning
Start with scale, because it is the fact most easily lost in the launch imagery. Roughly 45 Cybercabs were registered for commercial robotaxi use in Texas at launch, inside an Austin fleet of a little over 300 vehicles that is otherwise made up of Model Ys.

Tesla’s wider robotaxi service now covers about seven American metros, including Dallas, Houston, Miami, Orlando, Tampa and the San Francisco Bay Area, where state rules still require a human in the driver’s seat.

Manufacturing, at least, is real. The first Cybercab came off the line at Gigafactory Texas in February and volume production began in April, with planned capacity of up to 125,000 units a year. Musk has talked about a long-run target of two million a year and a build rate of one vehicle every ten seconds.

He has also put the price target at under USD 30,000, narrowing it to around USD 25,000 on earnings calls, and an eventual operating cost near 20 cents a mile.

None of those figures is a published price or a verified cost. Tesla has no consumer configurator for the car and is instead courting fleet buyers, asking companies to register interest in purchasing vehicles or building depot infrastructure.

That is a meaningful shift. It moves capital cost, insurance and depot operations off Tesla’s balance sheet and onto whoever buys in.

The regulator moved first
The National Highway Traffic Safety Administration opened audit query AQ26002 on the day of the launch, covering an estimated 1,000 Cybercabs. It is not about a crash. It is about paperwork and permission.

Federal motor vehicle safety standards assume manual controls, and Tesla self-certified the Cybercab as compliant without a steering wheel, brake pedal or mirrors. NHTSA wants to test that judgement.

There is a precedent, and it is not a comfortable one for Tesla. Zoox self-certified its purpose-built robotaxi in 2022 and NHTSA opened an almost identical audit query. Zoox eventually took the formal route, applying for a temporary exemption from eight federal standards, and only received final approval in July 2026.

That detour cost the Amazon-owned company roughly four years, and the approval came capped at 2,500 vehicles a year for two years.

The Department of Transportation has proposed removing the manual control requirements for vehicles designed to drive themselves, which would settle the question in Tesla’s favour, but that rulemaking is not finished.

The software question is separate, and older
Running alongside is a much larger investigation into Full Self-Driving itself. In March, NHTSA escalated its inquiry into FSD’s behaviour in poor visibility to an engineering analysis, the final investigative step before the agency can push for a recall.

It covers roughly 3.2 million Tesla vehicles and is tied to nine crashes in sun glare, fog and airborne dust, including one fatality.

In July the agency went further, asking Tesla to confirm whether fifteen specific marketing statements by the company and by Musk imply more capability than the system actually has. Failure to answer fully carries penalties of nearly USD 28,000 a day, capped near USD 139 million.

The Cybercab runs a more advanced build of the same camera-only stack. That is the crux of the readiness question.

Tesla has forgone sensor redundancy by choice, betting that the scale of its driving data beats a mix of lidar and radar, and regulators have not yet accepted or rejected that bet.

The operational record so far is mixed rather than alarming. Federal data covering Tesla’s Austin service from July 2025 to March 2026 logged 17 reported incidents, of which six were minor contact events judged at fault or partly at fault.

Austin police have confirmed no major crashes and no citations issued.

Two of the more serious incidents involved remote teleoperators taking manual control, one hitting a fence and one a construction barricade, which raises a different question about how much of the safety record depends on humans watching screens somewhere else.

Europe has not signed off on this
It is worth being precise here, because the point is widely misreported. The Dutch vehicle authority RDW granted Tesla a provisional European type approval in April 2026 after more than eighteen months of testing covering over 1.6 million kilometres. Lithuania, Estonia, Denmark and Belgium have since recognised it, taking the total to five countries.

But that approval covers FSD Supervised, a Level 2 driver assistance system cleared under UN Regulation 171. RDW was blunt about the distinction, stating that vehicles fitted with the system are not autonomous or self-driving and that the driver remains responsible at all times.

The regulator also noted that the European software differs substantially from the American version. Nothing in Europe has validated the technology now carrying passengers without a driver in Austin.

Europe demands type approval before deployment, while the United States allows manufacturers to self-certify and push software updates afterwards. That gap is the whole story.

Waymo is not waiting
The competitive picture is where the readiness argument turns commercial rather than philosophical. Waymo is delivering more than 500,000 paid rides a week across a growing list of American metros and is targeting a million a week by the end of the year.

It raised USD 16 billion in February at a valuation of about USD 126 billion, runs a fleet of roughly 3,500 vehicles, has passed 20 million lifetime trips and 220 million autonomous miles, and is opening in London and Tokyo.

Independent forecasters expect the million-ride target to be missed, with one estimate putting the likely fourth quarter figure nearer 775,000. Missing it would still leave Waymo an order of magnitude ahead of Tesla on rides delivered.

Zoox is smaller but structurally closer to Tesla in one respect. It also built a purpose-made vehicle with no controls, and it began charging for rides in Las Vegas in August, its first commercial market, after nearly two million autonomous miles and more than 350,000 riders.

It runs a free service in San Francisco and is preparing Austin, Miami, Dallas and Phoenix, with Amazon’s balance sheet behind it.

Uber has taken the opposite approach and is trying to own none of the hardware. Its expanded partnership with Nvidia aims to put Level 4 vehicles on the Uber network in Los Angeles and San Francisco in the first half of 2027, scaling to 28 cities by 2028 and eventually 100,000 vehicles, built on the DRIVE Hyperion platform and the Alpamayo model.

It has a separate arrangement with Zoox for Las Vegas and Los Angeles under which Zoox carries insurance and fleet costs, plus tie-ups with WeRide and Baidu in the Middle East and a Munich programme with Autobrains.

Describing Uber as still finding its feet is fair, since almost none of this generates revenue yet, but the strategy is coherent. Uber is betting that demand aggregation outlasts any single autonomy stack.

So is it ready?
The vehicle works. Early riders describe smooth driving and a comfortable cabin, and Tesla has a manufacturing advantage nobody else in this field can match. If the Cybercab really lands near USD 25,000 against rival vehicles costing several times that, the unit economics eventually favour Tesla.

What Tesla does not yet have is permission, scale or an unambiguous safety record. Forty-five cars in one city is a demonstration, not a service. A federal audit into whether the car may legally operate at all is a real risk given how long the same process detained Zoox.

And a launch-day fare comparison in Austin, where a Tesla robotaxi quoted USD 19.58 against USD 12.96 for an Uber on the same route, suggests the promise of cheap autonomous mobility is still some way off.

Tesla has done the hard engineering. The harder part, which is regulatory clearance and fleet scale, is exactly where its competitors have a three-year head start.

ALSO READ | Amid USMCA uncertainties, Trump imposes fresh tariffs on 60 economies 

He told reporters, “Canada was going to have the best trade deal in the world,” while adding that Ottawa did not raise the issue of tariff relief for medium- and ⁠heavy-duty trucks until the final hours of talks on August 21, the same day the negotiations failed.

Stating that Washington viewed those vehicles differently, Lutnick said, “It’s a whole different category. It was never raised. These were things they fit to make it end.”

As per the reports, the trade deal ⁠that fell apart would have cut the top-line tariff rate on Canadian cars and light-duty trucks from 25% to 15%.

As per Barclays, Canadian-built vehicles accounted for only about 6% of US sales in 2025. Still, as per the British bank’s estimates, if the current tariffs double, automakers including Ford Motor, General Motors, Jeep-maker Stellantis, Toyota, and Honda would face significant added costs on some of their most important models.

Simultaneously, a higher levy on vehicle parts would inflict pain across the American automotive supply chain.

Detroit auto executives, for quite some time, have been pressing their case to the Trump administration about how the tariff warfare over the past 18 months has left them in a worse position than Asian and European rivals.

While import tariffs from those markets stand at 15% due to the trade deals struck in 2025 with those nations, Trump’s levies have remained at 25% on Detroit automakers’ biggest trading partners, Mexico and Canada, with some relief on the value of their US content.

The administration reportedly floated the idea of requiring imported cars from Canada and Mexico to have half their content come from US-made parts to qualify for lower tariffs. Imports from Asia and Europe face no such content requirements.

ALSO READ | Trump’s war, tariffs squeeze American wallets

For General Motors, about ⁠17% of its Chevrolet Silverado pickup-truck production, its top-selling model, is located in Canada. For Stellantis, the US’ northern neighbor has emerged as the sole manufacturing site for its Chrysler Pacifica, one of its top-selling American models.

Ford, on the other hand, is set to start importing Super Duty large trucks from a plant in Oakville.

Among the non-American players, Toyota and Honda, according to Global Automakers of Canada, would ⁠be most exposed to the higher tariffs, as the two Japanese automakers accounted for more than 75% of the 1.2 million vehicles produced in the country in 2025, and many of those were shipped to the United States.

ALSO READ | Amid USMCA uncertainties, Trump imposes fresh tariffs on 60 economies

While Canada and Mexico requested a full extension, the Donald Trump administration declined to renew USMCA in its current 16-year term. And the last-minute breakdown of the trade talks between Washington and Ottawa, followed by “tit-for-tat tariffs” from both sides, has further complicated things.

While admitting that Honda is close to full production capacity in North America and needs a new factory, the Japanese automaker’s Executive Vice President Noriya Kaihara told reporters at a roundtable in Washington that any decision regarding the venture committing to fresh investments and capacity upgrades in this part of the world will solely depend on USMCA’s continuation.

“If there is no USMCA agreement in the future, we ⁠may have to change our direction,” Kaihara said, adding the company will need to make a decision within a year or two and would like the plant to be running by around 2030.

Canada’s retaliatory measures will take effect on September 8 in response to the United States imposing 50% tariffs on USD 20 billion of Canadian products entering American shores.

“Honda will be taking a wait-and-watch approach, instead of passing on the costs of tariffs to buyers in North America,” said Kaihara.

In 2025, Hyundai Motor complained about the uncertainty about USMCA to the Trump administration, stating that the delay was hurting its investment decisions.

“Early confirmation of USMCA’s extension ‌would ⁠immediately unlock over USD 20 billion in new American investments. Every month of ambiguity slows job creation, site selection, and technology development,” the automaker said back then.

The uncertainities around USMCA come amid Honda having a memorable year in North America. The Japanese automaker had its best July in seven years. Not only did unit sales go up by 36% during the month, but interest in the company’s hybrid and other fuel-efficient models soared as well, with oil prices experiencing high volatilities since the start of the Iran war.

Honda in May scrapped its long-term EV sales target, including its goal of having EVs make up a fifth of ⁠its new car sales in 2030. It now plans 15 new hybrids by 2030. It has indefinitely suspended its Canada EV project, an USD 11 billion investment plan to produce ⁠electric vehicles and batteries.

ALSO READ | US-Canada trade war: Trump’s tariff threat now targets automobile imports  

It also cancelled three planned EVs for the American market. To avoid potential tariff issues, Honda announced in 2025 that it would move production of its US-bound five-door Civic hybrid model from Japan to Indiana.

Uncertainties everywhere
Canada, on Tuesday, hit back at the Donald Trump administration with retaliatory tariffs on about USD 20 billion worth of US annual imports. The Mark Carney government also rolled out aid for businesses and workers, matching Washington’s latest duties dollar-for-dollar.

“The counter-tariffs on American goods will take effect on September 8 and impose duties of 15%, 25%, and 50% across around 700 products imported from south of the border,” a government statement said.

While Trump’s new 50% tariffs on USD 20 billion of Canadian imports took effect on Saturday after talks between the two countries collapsed, the Republican threatened to rename Lake Ontario, which straddles both countries, as “Lake America.” He has also promised to put 50% tariffs on auto imports from Canada from January 2027, remarks that marked a new low in relations between the longtime allies.

Additionally, the 50% tariff threat raises concerns about the future of the highly integrated automobile manufacturing and logistics network spanning the US, Canada, and Mexico, which not only contributes approximately USD 1.2 trillion to the American economy but also employs around ten million workers.

“Our dollar-for-dollar rate for rate counter-tariffs as well as a multi-billion dollar support package will protect workers, farmers, families, and businesses,” Canada’s Finance Minister Francois-Philippe Champagne said.

“We have levied the 50% tariffs on steel, aluminum, furniture, and clothing; set the 25% tariffs on cheese, appliances, and some seafood; and placed the 15% tariffs on electronics and tools,” a Canadian government official told reporters.

Canada’s retaliatory tariffs, calculated using 2024 trade figures, cover goods accounting for nearly 4.5% of Canada’s imports from the United ‌States.

Industry Minister ⁠Melanie Joly said the counter-tariffs will serve two purposes: protect Canadian businesses and apply political pressure before Americans vote in the November 3 midterm elections.

“We need to make sure that the competitors don’t have access to the Canadian market in a better way than their own… products, and that’s why the retailers need to show that from Canada. Second, we’re also targeting products that will target states in the US, and so we’re being wise and strategic ⁠to put political pressure, and that’s why we think it’s the right thing to do right now,” she remarked.

The Canadian tariffs will cover some prepared foods, perfumes and toiletries, plastics, lumber, wood pulp and paper products, carpets and clothing, apart from targeting American industrial goods, including iron and steel, aluminum, hand tools and other metal products, machinery ⁠and electrical equipment, as well as rail engines, motorcycles, furniture and gaming equipment.

Canada also unveiled a CUSD 7.5 billion package of measures featuring support for small and medium-sized businesses (SMEs), a stream for funding cash flow of companies, and support for workers at risk amid the tariff warfare.

“The Business Development Bank of Canada, a federal lender, will provide part of the support to affected businesses, offering interest-free loans of between CUSD 2.5 million and CUSD 5 million. Companies would not be required to make repayments for 36 months,” Joly said.

ALSO READ | Control of transport-related data, software-driven vehicles discussed at UN meet

The carmaker’s remedy includes warning labels and an update delivered remotely that automatically lowers vehicle windows after ⁠a collision.

Apart from Tesla and Xiaomi, Leapmotor, Xpeng and Geely Holding also announced their largest recalls on record, according to their filings to SAMR.

Xiaomi will recall about 390,000 vehicles, followed by Leapmotor (about 371,000) and Xpeng (about 264,000).

The door handles, which open via a key fob, smartphone or touch-sensitive panel, have also drawn scrutiny from American regulators.

In July, ⁠the US National Highway Traffic Safety Administration (NHTSA) said it would consider new safety standards to address the risk of occupant entrapment in vehicles during electrical power failures.

NHTSA also reviewed a petition seeking a recall of Tesla Model 3 sedans over concerns that emergency door release controls may not be clear in an emergency. However, the watchdog denied the petition in favour of addressing the issue through rulemaking.

ALSO READ | Sixty-nine nations reach landmark deal on road safety, AI accountability

In 2025, European regulators too flagged the potential risks involving door-handle designs ⁠as a key priority.

The United Nations Economic Commission for Europe has been drafting new standards to ensure that electronic handles can be opened from inside and out if the car’s electricity is cut off.

ALSO READ | Ferrari’s manual gearbox gambit: Is nostalgia papering over a bigger problem

Ferrari has already hit Luce’s 2026 annual sales target of just under 500 units thanks to strong China demand, as per the Financial Times (FT).

Hitting back at the detractors, the carmaker, in June, said the “unconventional appearance” was largely dictated by aerodynamic requirements and needed to be “digested” ⁠before it could be understood.

Luce’s strong demand has also resulted in Ferrari raising its forecasts for full-year revenue, core profit and cash, with the Q2 results beating analysts’ expectations.

The Italian company projected that its earnings before interest, taxes, depreciation, and amortisation (EBITDA) would increase to at least 2.97 billion euros (USD 3.41 billion) in 2026, up from 2.77 billion euros in 2025, compared to a previous forecast of at least 2.93 billion euros.

Image Courtesy: Ferrari

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]]> https://internationalfinance.com/transport/already-a-winning-bet-ferraris-luce-ev-one-off-shatters-auction-records/feed/ 0 https://internationalfinance.com/transport/pony-ai-uber-expands-partnership-to-deploy-over-2000-robotaxis-in-europe/#utm_source=rss&utm_medium=rss&utm_campaign=pony-ai-uber-expands-partnership-to-deploy-over-2000-robotaxis-in-europe https://internationalfinance.com/transport/pony-ai-uber-expands-partnership-to-deploy-over-2000-robotaxis-in-europe/#respond Mon, 17 Aug 2026 04:00:50 +0000 https://internationalfinance.com/?p=57669 The partnership will expand from the existing commercial service in Zagreb, coming soon to the Uber platform, to four additional cities in Europe

The post Pony.ai, Uber expands partnership, to deploy over 2,000 robotaxis in Europe appeared first on International Finance.

]]> Pony AI, a global leader in the large-scale commercialization of autonomous driving technology, and Uber Technologies, on Friday (August 14), announced an expansion of their strategic partnership, with plans to collaborate on the deployment of more than 2,000 Pony.ai Robotaxis across Europe.

“The partnership will expand from the existing commercial service in Zagreb, coming soon to the Uber platform, to four additional cities in Europe. Additional details about the rollout will be announced in phases, and the expanded partnership also includes plans to deploy in the Middle East,” the companies said.

“The expanded agreement gives Pony.ai’s joint-deployment model a clearer path to commercial scale. The model brings together three core functions required to operate Robotaxi services at scale: Level 4 (L4) autonomous driving technology, a leading mobility platform, and day-to-day fleet operations. It allows technology, platform, and fleet partners to work together in the same market, while individual partners may also take on more than one role. Vehicle funding and ownership can sit with different partners depending on the market,” Pony remarked.

In the expanded partnership, Pony.ai will supply its L4 autonomous driving technology, rider experience, and knowledge gained from running many Robotaxi services, while Uber will offer customer access through its top global mobility platform, which includes booking, payment, and customer service, as well as its increasing number of human drivers.

Local fleet partners selected for each market may establish and carry out day-to-day fleet operations. Day-to-day fleet operations will be carried out by established local fleet partners selected for each market.

ALSO READ | Uber makes big-ticket investment commitment in self-driving startup Nuro

Pony.ai operates paid, fully driverless services. Robotaxi services in China’s four major cities have reached a point where they cover their costs across different areas, proving that Pony.ai’s model for running robotaxis on a large scale is financially viable.

“For Pony.ai, the expanded partnership with Uber marks a further evolution of its growth strategy, complementing continued expansion into new markets with fleet deployments at a regional scale. The collaboration dates back to May 2025, when Pony.ai and Uber first announced plans to bring Pony.ai Robotaxis onto the Uber platform in international markets. In 2026, the companies worked with Croatian mobility company Verne to launch Europe’s first commercial robotaxi service in Zagreb, with Verne serving as the local fleet owner and operator,” said Founder and CEO Dr. James Peng.

“This expanded agreement marks an important new phase in the partnership between Pony.ai and Uber. It reflects our shared commitment to bringing safe, reliable Robotaxi services to more European cities. By combining Pony.ai’s proven autonomous driving technology and operational know-how with Uber’s global mobility platform and extensive market reach, we aim to build sustained commercial operations at scale across Europe and beyond,” he added further.

“The next chapter for autonomous mobility is about moving from individual launches to repeatable commercial scale. Together with Pony.ai, we’re combining advanced autonomous technology with Uber’s hybrid platform, on-the-ground experience, and operational excellence to build a model that can quickly and reliably expand across cities,” noted Sarfraz Maredia, Global Head of Autonomous Mobility & Delivery at Uber.

Pony AI has emerged as a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic “hardware,Driver technology,” a full-stack autonomous driving technology that seamlessly integrates Pony.ai’s proprietary software, hardware and services, the Chinese company is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases.

Founded in 2016, Pony.ai has expanded its presence across China, Europe, Asia, the Middle East, and other regions, ensuring widespread access to its advanced technology.

The tie-up with Uber also comes at a time when the latter is planning to spend more than USD 10 billion on robotaxis over the coming years, while holding Google Waymo as one of the important partners.

As per Uber, its investments in robotaxis would largely comprise equity investments in autonomous-driving partners and balance-sheet support for fleet operations and vehicle commitments.

CEO Dara Khosrowshahi, during a recent conference call with analysts, brushed off reports of Waymo considering ending their partnership, saying he expected the companies to continue operating together in Austin and Atlanta, while the ride-hailing company expanded ties with other autonomous vehicle developers.

Uber forecast third-quarter gross bookings of USD 58.25 billion to USD 60.25 billion, broadly in line with analysts’ expectations of USD 59.21 billion, according to ⁠data compiled by LSEG.

The company’s Q2 gross bookings of USD 58.02 ⁠billion topped analysts’ estimates of USD 57.06 billion, while adjusted core earnings also exceeded expectations.

The business benefited from broad-based demand across regions and services during the quarter, including travel linked to the FIFA World ⁠Cup.

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