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Here is what you may have missed on Market Catalysts for Thursday, July 17. Uber and Lucid are partnering on a new robotaxi service.
A partnership between Uber, EV maker Lucid, and self-driving tech startup Nuro will bring robotaxis to the road in 2026. Nuro co-founder and President Dave Ferguson discusses the plan with Ed Ludlow on “Bloomberg Tech.
Uber is a dominant, profitable, asset-light platform benefiting from secular trends in mobility and delivery, with strong global brand and network effects. Autonomous vehicles (AVs) are a key catalyst, poised to enhance Uber's margins, reduce regulatory risks, and expand its addressable market. Autonomous vehicles (AVs) have the potential to reduce labor classification disputes inherent in the gig-economy model.
The rideshare company plans to invest several hundred million dollars into the program.
Uber stock is lower for a seventh straight day despite announcing a plan to launch a new robotaxi service with Lucid, Nuro.
Lucid's stock zooms to best day in months after Uber becomes the EV maker's latest backer and the companies hatch a plan to launch robotaxis.
Lucid Motors ($LCID) | Uber ($UBER) | Intuitive ($ISRG) | WeRide ($WRD) | Vertical Aerospace ($EVTL)
Welcome to the Green Stock News brief for Thursday July 17th. Here are today's top headlines: Lucid Motors (NASDAQ: LCID), Nuro, and Uber (NYSE: UBER) have announced an exclusive next-generation robotaxi program for the Uber platform, combining Lucid's advanced vehicle architecture, Nuro's Level 4 autonomous driving system, and Uber's global ride-hailing network, with a launch expected in a major U.S. city next year.
Uber is teaming up with Lucid Group and Nuro to launch a robotaxi fleet, with plans to deploy at least 20,000 robotaxis over six years. Mandeep Singh has more on "Bloomberg Open Interest.
Lucid Group Inc (NASDAQ:LCID) shares leapt 44% in premarket trading on Thursday after a $300 million investment from Uber was announced, with the aim of deploying "20,000 or more" electric robotaxis. Electric vehicles made by the Californian luxury auto challenger will be equipped with Level 4 self-driving software from Nuro and deployed over six years around the world.
Uber is investing hundreds of millions into the robotaxi wars. The company partnered with Lucid, which makes the Gravity EVs that Uber will use in its robotaxi fleet.