Uber Technologies Inc. is in discussions with private equity firms and banks to secure financing for the expansion of its robotaxi operations, CEO Dara Khosrowshahi revealed on Wednesday.

The move signals the ride-hailing giant’s deepening commitment to autonomous vehicle technology amid increasing competition and scrutiny.

Uber is currently working with Alphabet-owned Waymo and automakers such as Volkswagen and Lucid Motors to strengthen its position in the self-driving space. The company has rolled out Waymo-powered robotaxis in select U.S. cities, including Austin, Texas and Atlanta, Georgia.

“We’re talking to private equity players and have spoken with banks,” Khosrowshahi said. “Once we prove the revenue model—how much these cars can generate daily—there will be plenty of financing to go around.”

As part of its broader strategy, Uber is exploring three robotaxi business models: paying a fixed rate to partners that own autonomous vehicles, sharing revenue with fleet operators, and owning vehicles while licensing self-driving software.

Currently, Uber plans to allocate a “modest” portion of its approximately \$7 billion in annual cash flow to fund the rollout, and may sell minority stakes in affiliated ventures to accelerate growth.

Analysts say the mass deployment of autonomous taxis could help Uber reduce its dependency on human drivers and significantly improve profit margins.

In April, the company signed a deal with Volkswagen to deploy thousands of autonomous electric vans across the U.S. over the next decade. More recently, Uber entered into a \$300 million agreement with electric vehicle startup Lucid and self-driving tech firm Nuro to launch more than 20,000 robotaxis over six years.

The autonomous vehicle industry continues to face high regulatory hurdles and skepticism about its scalability. Despite that, major players like Tesla and Waymo are expanding services. Tesla began limited robotaxi operations in Austin this June and launched ride-hailing services in California’s Bay Area last month. Waymo, meanwhile, operates in five U.S. cities, including San Francisco.

Uber said it has not observed significant changes in customer demand in cities where Tesla has introduced its services.

“With lofty predictions around the total addressable market, this remains a worthwhile endeavor for many companies,” said Ken Mahoney, CEO of Mahoney Asset Management. “The long-term potential of robotaxis is simply too big to ignore.”