Summary
Uber plans to invest $300 million in Lucid, an electric vehicle company, to start a robotaxi service in a major U.S. city late next year. Over six years, Uber will use over 20,000 Lucid SUVs with self-driving technology from Nuro. This deal marks Uber's renewed effort in the autonomous vehicle market after stepping back in 2020.
Key Facts
- Uber will invest $300 million in Lucid to develop a robotaxi service.
- The service aims to launch in a major U.S. city by late next year.
- Uber will acquire and use over 20,000 Lucid SUVs equipped with self-driving tech from Nuro.
- Lucid's stock rose by about 39% following the announcement.
- The robotaxi partnership reflects Uber's return to autonomous vehicles after exiting the market in 2020.
- A Lucid-Nuro robotaxi prototype is currently undergoing tests in Las Vegas.
- Other companies like Tesla and Waymo are also expanding their autonomous taxi services in various U.S. cities.
- Commercializing self-driving technology has been challenging due to high costs and strict regulations.
