Uber Pledges $300M Investment in Lucid for a 20,000 Strong Robotaxi Fleet
Uber has recently declared a groundbreaking $300 million investment in the electric vehicle manufacturer, Lucid Motors. This forms part of an ambitious six-year deal aiming to deploy over 20,000 robotaxis.
The partnership also brings in the autonomous vehicle startup, Nuro, which will supply the self-driving technology for the Lucid Gravity SUVs. As per the agreement, Uber is set to purchase a minimum of 20,000 Lucid Gravity vehicles, all equipped with Nuro’s autonomous driving system, over a span of six years starting from 2026.
The first robotaxi service is slated to launch in a major U.S. city in the upcoming year. In addition, Uber is also making a separate investment, worth several hundred million dollars, in Nuro. This startup will be tasked with the development and validation of the safety aspects of the autonomous technology.
This deal marks Uber’s most significant commitment yet towards building its own robotaxi fleet, following previous collaborations with companies such as Waymo.
Following the announcement, Lucid’s stock saw a surge of 36%. The 450-mile range of the Gravity vehicles is anticipated to reduce both charging downtime and operational costs. A prototype is currently undergoing testing at Nuro’s Las Vegas proving grounds.
Source: www.cnbc.com