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Uber Uber.n will invest $300 million in electric car maker Lucid Lcid.o in a Robotaxi deal aimed at starting from one of the major U.S. cities later next year, the company said Thursday.
For more than six years from 2026, Uber will acquire and deploy more than 20,000 clear gravity SUVs equipped with autonomous vehicle (AV) technology from startup Nuro, the three companies said in a statement.
The deal promotes renewed plans and self-driving cab financing years after the first wave of autonomous investments produced only a limited number of vehicles. Tesla recently launched a Robotaxis Trial in Austin, with Waymo, the alphabet’s googl.o driverless taxi unit, is speeding up expansion.
As part of the announced deal, Uber will invest hundreds of millions of dollars in Lucid and Nuro, which provides autonomous driving technology, the joint statement said. Of that, $300 million will be sent to Lucid, EV Maker said in a separate filing with the U.S. Securities and Exchange Commission on Thursday.
Mikid stocks rose more than 26% to $2.95. They fell about 24% this year.
Uber’s latest move highlights a new push into the Robotaxi space after its exit in 2020. Since then, Uber has been in Waymo and Aurora Aur.o.
The Lucid deal follows Uber’s Robotaxi deal in April, followed by an agreement with Volkswagen, which will provide ID.Buzz Vans for commercial services planned for Los Angeles next year.
However, commercialization of AV Tech has been much more difficult than expected with high costs, strict regulations and federal investigations to force many people to close, including General Motors’ GM.N cruises.
Still in the race, AMZN.O Zoox from Amazon.com is included. It is testing Robotaxi without manual control and is expected to launch commercial services in Las Vegas this year.
After missing a long-standing promise, Tesla TSLA.O began a restricted trial last month in Austin, Texas, with around 12 Model Y SUVs. CEO Elon Musk said it will quickly expand its services to other US cities this year.
Waymo has grown carefully over the years, operating in several US cities with around 1,500 vehicles. This month, I surpassed 100 million miles of autonomous driving.
The Lucid-nuro Robotaxi prototype is already operating autonomously in a closed circuit at a test facility in Nuro in Las Vegas, the company said.
“We are expanding beyond traditional EV technology leadership and working on partnerships, moving towards areas that we have not focused on in the past,” Lucid interim CEO Marc Winterhoff told Reuters.
Co-founded and led by former Waymo engineers, Nuro has expanded from manufacturing last mile delivery vehicles to providing self-driving technology to commercial and passenger vehicles.
“We have other very positive conversations happening on the personal vehicle side… so we’ll integrate Nuro drivers into vehicles that sell to final consumers,” said Dave Ferguson, Nuro co-founder and president.
He said Nuro will need to apply for a state-level sales license, despite having several licenses from its previous delivery operations.
Separately, Lucid said it proposed a reverse stock split of one-tenth of its Class A common stock.
Reports by Abhirup Roy in San Francisco and Akash Sriram in Bengaluru, and additional reports by Jaspreet Singh. Edited by Christian Schmolinger
