EV maker Lucid Motors announced on Thursday it is partnering with Nuro and the ride-hailing company Uber on the development of a “next-generation premium global robotaxi program.”
Uber said it plans to invest hundreds of millions of dollars in both Nuro and Lucid as part of the program.
The investment in Lucid will total $300 million, while the amount allocated to Nuro was not disclosed.
Lucid shares soared 45% immediately after the announcement and are trading at $3.33 as of the time of writing.
The debut is expected for “a major US city” next year with Uber aiming to deploy “20,000 or more” Lucid vehicles equipped with the Nuro’s Level 4 autonomy system technology over six years.
The first prototype is already being operated in Las Vegas. However, in a closed circuit.
Lucid said in a statement that the vehicles will be owned and operated by Uber or its third-party fleet partners and made available to riders exclusively through Uber.
Marc Winterhoff, Interim CEO at Lucid, said the program “is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market.”
The hardware will be integrated into the Lucid Gravity on Lucid’s assembly line and will subsequently receive Nuro’s software when the vehicle is commissioned by Uber, according to the companies.
Before the partnership was revealed, the stock was down 24% year to date and 36% in the last 12 months.
The announcement came a few minutes after the EV maker revealed plans to make a 1:10 reverse stock split, pending approval from shareholders in an upcoming special meeting.
As of the end of March, Lucid reported an accumulated deficit of $13.3 billion, according to its most recent filing with the U.S. Securities and Exchange Commission.
Lucid led the large luxury electric sedan segment in the US during the second quarter of 2025, though deliveries of its Gravity SUV remained limited, according to Cox Automotive data released Monday.
The California-based EV maker delivered 2,630 Air sedans between April and June — marking a 9.9% increase year over year — and five units of its Gravity SUV.
In Europe, Lucid registered 27 vehicles in June across its European markets in June.
Across Germany, Norway, Switzerland, and the Netherlands, registrations rose 22.7% from a year earlier but were slightly below the 28 units recorded in May, based on official national data and EU-EVs figures.
Lucid produced 3,863 vehicles in the second quarter, driven in part by the ramp-up of its Gravity SUV. The output marked a sequential increase of 74.6% and an 83.1% jump from a year earlier.
For 2025, the production guidance is “approximately 20,000” vehicles.
Winterhoff said earlier this week that investor can expect updates on both the mid-size platform — which will underpin three models with the first one priced at about $48,000 — but also on the production target.
