Uber Announces Partnership with Lucid Group and Nuro for 20,000 Robotaxis Starting Next Year

Uber has partnered with Lucid Group and Nuro to deploy 20,000 Lucid Gravity robotaxis equipped with Nuro Driver technology, starting next year. The three companies will combine their technologies to offer a premium global robotaxi option on Uber's platform. Uber will invest $300 million in Lucid Group and a significant amount in Nuro. The partnership aims to provide a fully-integrated robotaxi experience and expand Uber's services in the advanced mobility industry.

Uber Technologies, Inc. (NYSE:UBER) has announced a strategic partnership with Lucid Group, Inc. (NASDAQ:LCID) and Nuro to deploy 20,000 Lucid Gravity robotaxis equipped with Nuro Driver technology, set to commence operations in 2026. The collaboration aims to provide a premium global robotaxi option on Uber's platform, integrating advanced mobility technologies to enhance its service offerings.

The partnership will see Uber investing $300 million in Lucid Group and a significant amount in Nuro. The investment underscores Uber's commitment to expanding its services in the advanced mobility sector and leveraging cutting-edge technologies to improve its market position.

Uber's Chief Executive Officer, Dara Khosrowshahi, stated, "This partnership with Lucid and Nuro represents a significant step forward in our mission to provide a seamless, safe, and sustainable transportation experience. By combining our platforms with Lucid's innovative robotaxis and Nuro's advanced driver technology, we are set to revolutionize the global mobility landscape."

Lucid Group, known for its electric vehicles (EVs) and battery technology, will provide the Lucid Gravity robotaxis. These vehicles are designed to offer a premium, fully autonomous ride-sharing experience. Nuro, a self-driving car company, will integrate its advanced driver technology into the Lucid Gravity vehicles, ensuring safe and efficient operation.

The collaboration comes at a time when the robotaxi market is witnessing intense competition. Waymo, a subsidiary of Alphabet Inc. (GOOG, GOOGL), has already covered 100 million miles on public roads with its driverless robotaxis, while Tesla is expanding its robotaxi service in various locations [3]. This partnership positions Uber as a key player in the advanced mobility industry, leveraging its extensive user base and global presence to offer a new level of service.

The partnership also aligns with Uber's broader strategy to enhance its financial health and growth prospects. TD Cowen has reiterated its Buy rating on Uber, citing expectations for continued growth and margin expansion [1]. The firm projects Uber’s second-quarter gross bookings to reach $46.0 billion, representing 15.0% year-over-year growth.

In conclusion, the partnership between Uber, Lucid Group, and Nuro signifies a significant advancement in the robotaxi market. By combining their technologies, the three companies aim to provide a fully-integrated, premium robotaxi experience, expanding Uber's services and positioning itself as a leader in the advanced mobility industry.

References:
[1] https://www.investing.com/news/analyst-ratings/uber-stock-price-target-maintained-at-104-by-td-cowen-on-growth-outlook-93CH-4138199
[2] https://www.tradingview.com/news/zacks:72af3e39d094b:0-lucid-flags-tariff-driven-price-surge-localizes-battery-sourcing/
[3] https://stocktwits.com/news-articles/markets/equity/alphabet-robotaxi-unit-waymo-covering-100-million-driverless-miles/ch8Q7dXR5Fr