KeyBanc analyst Justin Patterson says Uber‘s (UBER) partnership with Cruise brings another large autonomous vehicle operator onto Uber’s platform, and gives Uber users in new geographies access to autonomous vehicles. The firm views this as a positive indication of Uber’s value to autonomous vehicle companies, the establishment of a hybrid ride services network, and likely the first of several announcements Uber alluded to on its Q2 earnings call. KeyBanc maintains that investors are skeptical Uber can partner with Tesla (TSLA), but points to past partnerships as a sign the companies can work together. It remains “open-minded” into Tesla’s upcoming October 10 event.
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