MOZCO Mateusz Szymanski
Uber (UBER) and Lucid (NASDAQ:LCID) are taking on Waymo (GOOG) and Tesla (TSLA) in the robotaxi business with a partnership to develop a “next generation premium global robotaxi program” using Nuro autonomous vehicle technology.
As part of the deal, Uber (UBER) will invest $300M in Lucid (NASDAQ:LCID) and a “multi-hundred-million dollar” investment in Nuro.
Uber (UBER) plans to deploy at least 20K Lucid vehicles equipped with the Nuro Driver over the six years. The vehicles will be owned and operated by Uber (UBER) or its third-party fleet partners and will be made available exclusively on the Uber (UBER) platform.
“Autonomous vehicles have enormous potential to transform our cities for the better,” said Dara Khosrowshahi, CEO of Uber. “We’re thrilled to partner with Nuro and Lucid on this new robotaxi program, purpose-built just for the Uber platform, to safely bring the magic of autonomous driving to more people across the world.”
The news launched shares of Lucid Group (NASDAQ:LCID) more than 40% higher in Thursday’s premarket trading.
Separately, Lucid (LCID) also announced plans for a one-for-ten reverse stock split.
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