Latest news with #Lucid
Daily Express
5 hours ago
- Automotive
- Daily Express
Uber to deploy 20,000 robotaxis
Published on: Saturday, July 19, 2025 Published on: Sat, Jul 19, 2025 By: Bernama Text Size: A prototype is currently being tested in Las Vegas, Nevada. The company said that it would 'first launch in a major US city next year.' SAN JOSE: United States (US) ride-hailing company Uber this week said it was planning to deploy at least 20,000 robotaxis over the next six years, German Press Agency (dpa) reported. The company said the fleet would be made up of SUVs by US electric vehicle manufacturer Lucid and equipped with self-driving technology developed by startup Nuro. Advertisement 'The vehicles will be owned and operated by Uber or its third-party fleet partners and made available to riders exclusively via the Uber platform,' the ride-hailing giant said in a statement. A prototype is currently being tested in Las Vegas, Nevada. The company said that it would 'first launch in a major US city next year.' As part of the partnership, Uber is investing US$300 million in Tesla competitor, Lucid. Uber has already demonstrated its ambition to become the leading platform for robotaxis, having signed deals with German car giant Volkswagen and Waymo, the self-driving car company owned by Google's parent firm Alphabet. In some US cities, Waymo self-driving cars are already available on the platform. Robotaxis from Volkswagen are also set to be added to the offering. Earlier this week, Uber also announced a new partnership with Chinese self-driving car firm Momenta aimed at introducing autonomous services outside the US and China.
Business Insider
8 hours ago
- Business
- Business Insider
Lucid Stock (LCID): Morgan Stanley Sees ‘Strategic Opportunities' in Uber Deal Ahead of Q2 Results
Luxury electric vehicle (EV) maker Lucid Group (LCID) will report its Q2 results on August 6. The stock gained over 36% on Thursday after the company announced a new partnership with Uber (UBER) and autonomous tech startup Nuro. The three companies plan to deploy 20,000 Lucid Gravity SUVs, equipped with Nuro's self-driving technology, on Uber's network over the next six years. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Following the news, Top Morgan Stanley analyst Adam Jonas reiterated a Hold rating on Lucid with a $3.00 price target. Four-star analyst Adam Jonas believes the Uber-Nuro deal shows that Lucid is expanding its focus beyond EVs and starting to pursue 'AI-enabled autonomy' through strategic partnerships. Analyst Sees Long-Term Value in the Uber Deal Jonas highlighted Lucid's upcoming Gravity SUV as a key part of the company's next growth phase. He believes the deal shows Lucid's potential to play a bigger role in the AI and self-driving space. As part of the deal, Uber will invest $300 million in Lucid. While the amount is relatively small compared to Lucid's ongoing cash needs, Jonas believes it could provide short-term support as Lucid works to ramp up Gravity production. Although Morgan Stanley remains cautious on the stock, the firm views the deal as an important step that could lead to more partnerships in AI, EV technology, and global markets, helping Lucid strengthen its position in the fast-growing autonomous driving space. What's Ahead for Lucid Stock? Looking ahead into the Q2 earnings season, Wall Street forecasts a Q2 2025 loss of $0.22 per share, an improvement from the $0.34 per share loss in the same quarter last year. Meanwhile, revenues are expected to rise by 41% from the same quarter last year, reaching $283.2 million, according to data from the TipRanks Forecast page. Investors will be watching closely for updates on Gravity production, spending levels, and any early signs of revenue growth tied to these new partnerships. Is LCID Stock a Buy? The stock of Lucid Group has a consensus Hold rating among ten Wall Street analysts. That rating is currently based on one Buy, eight Hold, and one Sell recommendations issued in the past three months. The average LCID price target of $2.70 implies 13.46% downside from current levels.
Yahoo
8 hours ago
- Automotive
- Yahoo
Lucid Is Skyrocketing Today -- Is the Stock a Buy Right Now?
Key Points Lucid stock is rocketing higher today following news that the company has partnered with Uber for its robotaxi program. The EV specialist signed a six-year deal to provider Uber with vehicles, and Uber also invested $300 million in Lucid. Lucid stock remains a high-risk, high-reward play, but its prospects look significantly better following its deal with Uber. 10 stocks we like better than Lucid Group › Lucid Group (NASDAQ: LCID) stock is soaring today after the company announced a major new deal in the robotaxi space. The company's share price was up 40.2% as of 1:30 p.m. ET amid the backdrop of a 0.4% gain for the S&P 500 and a 0.7% jump for the Nasdaq Composite. Uber Technologies announced today that it has selected Lucid as a key vehicle provider for its robotaxi initiatives. The ride-hailing company will be purchasing the vehicles from Lucid and operating them using autonomous-vehicle software from Nuro. As part of the deal, Uber has also purchased a $300 million stake in Lucid. Is Lucid stock a buy right now? Lucid's long-term success still hinges on scaling its vehicle production and delivery numbers to the point where it sees enough benefits from economies of scale to generate positive margins on each electric vehicle (EV) it sells. Uber expects to roll out 20,000 or more Lucid vehicles with its robotaxi software over the next six years. Uber's Lucid robotaxis are slated to launch next year in an unnamed major U.S. city. The deal with Uber is likely to be a substantial positive demand catalyst for Lucid. In conjunction with the news, the EV specialist submitted a filing with the Securities and Exchange Commission (SEC) stating that it plans to move forward with a 1-for-10 reverse stock split. While the Saudi Arabian Public Investment Fund (PIF) remains Lucid's largest shareholder and will likely continue to bankroll the business and provide it with operating capital as it posts large losses in the quest to scale its operations, it's encouraging to see Uber come on board as a major investor and partner. Despite the big valuation pop for the stock already seen in today's trading, the deal with Uber looks like a substantial buy signal for Lucid stock if you were already considering an investment in the company. Do the experts think Lucid Group is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Lucid Group make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,058% vs. just 179% for the S&P — that is beating the market by 878.83%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,281!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,415!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Keith Noonan has positions in Uber Technologies. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool has a disclosure policy. Lucid Is Skyrocketing Today -- Is the Stock a Buy Right Now? was originally published by The Motley Fool
Yahoo
9 hours ago
- Automotive
- Yahoo
LCID stock price surges as new deal sets up Lucid Motors to take on Waymo and Tesla
Investors are betting on a bright future for Lucid after the Silicon Valley-based electric vehicle (EV) maker announced a $300 million deal to create a robotaxi program with ride-booking giant Uber and autonomous vehicle startup Nuro. This new tax deduction in Trump's 'big, beautiful bill' lets people cash in on charitable donations up to $2,000. Here's what to know These are the 3 best questions to ask at the end of your job interview Southwest Florida's housing market is undergoing a material home price correction—here's why The companies' partnership was announced early Thursday. By market opening, the stock price for Lucid (Nasdaq: LCID) had surged nearly 30% and continued to rise gradually through the morning. After an initial drop, Uber stock (NYSE: UBER) also started a slow rise. Together, the companies are working to create a fully autonomous version of the Lucid Gravity, an electric SUV launched earlier this year, for exclusive use in Uber's U.S. fleet. The vehicles will be equipped with a Level 4 autonomous driving system developed by Nuro. (Level 4 is the highest level of autonomy—the ability to act without human intervention—currently available in a commercial vehicle.) 'We believe this partnership will demonstrate what's possible when proven AV technology meets real-world scale,' Jiajun Zhu, Nuro's cofounder and CEO, said in a statement. A proof-of-concept vehicle has already been created and is operating autonomously in Nuro's 'proving grounds' in Las Vegas. As part of the partnership, Uber has committed to buying at least 20,000 of these vehicles, Nick Twork, a Lucid spokesperson, told Fast Company. Beyond the vehicles, Uber also invested $300 million in Lucid and 'hundreds of millions of dollars' in Nuro, according to Twork and a Nuro spokesperson, respectively. These investments follow other Uber partnerships with autonomous vehicle companies, signaling the company's commitment to ramping up its involvement in the autonomous vehicle industry. Earlier this week, Uber announced a multiyear partnership with Baidu (Nasdaq: BIDU), a Chinese technology company deploying autonomous vehicles in non-U.S. markets. Within the U.S., Uber is also working with Waymo—a partnership that brought robotaxis to Austin and Atlanta earlier this year. 'This is the start of our path to extend our innovation and technology leadership into this multitrillion-dollar market,' Marc Winterhoff, Lucid's interim CEO, said in a statement. Lucid reported a Q1 2025 revenue of $235 million, a year-over-year increase of 36%, and a net loss nearly 50% lower than the same quarter last year—$366 million compared with 2024's $681 million. The Lucid Gravity SUVs commissioned by Uber are expected to be on the road in a yet-unnamed major U.S. city by next year. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
11 hours ago
- Automotive
- Los Angeles Times
Uber partnering with Lucid, Nuro to launch robotaxis in 2026
Uber Technologies Inc. is teaming up with electric vehicle maker Lucid Group Inc. and self-driving tech startup Nuro to launch a robotaxi fleet. Uber announced Thursday it or its third-party partners will purchase and operate Lucid Gravity SUVs outfitted with Nuro Driver technology on its ride-sharing network. The company aims to launch the first vehicle later in 2026 in an unidentified major US city, with plans to deploy at least 20,000 of the robotaxis over six years. The ride-sharing company also announced it's making separate multi-hundred-million dollar investments in both Lucid and Nuro. That funding will include $300 million for Lucid that will be used in part to upgrade to its assembly line to integrate Nuro hardware into the Gravity vehicles, according to the EV company. Separately, Lucid also said it plans a 1-for-10 reverse stock split, subject to shareholder approval. The Lucid-Nuro deal adds to more than a dozen partnerships that Uber has announced with autonomous vehicle tech developers and carmakers, including Waymo and Volkswagen Group of America, as it aims to be the go-to commercial app for robotaxis. Earlier this week, Uber announced a partnership with Chinese AV maker Baidu to deploy robotaxis in several non-US markets. Currently autonomous rides are available through the Uber app in Phoenix, Austin, Atlanta and Abu Dhabi. The substantial investments by Uber further underscore its strategy shift away from developing autonomous technology in-house, as it did under co-founder and former Chief Executive Officer Travis Kalanick, in favor of partnering with and investing in firms that specialize in AV. Uber has monetized some of its equity stakes in firms such as autonomous freight company Aurora Innovation Inc. to fund future investments in the driverless ecosystem, CEO Dara Khosrowshahi has said. Competition is intensifying in the still-nascent robotaxi market, with EV giant Tesla Inc. rolling out its long-promised service in Austin last month and CEO Elon Musk pledging to expand to other cities. Uber first partnered with Nuro in 2022 on food delivery robots. The following year Nuro pivoted from building and scaling custom AVs to focusing on developing autonomous software. The Uber partnership also adds a notable customer for Lucid, one of the few pure play EV makers in the US, as it works to popularize Gravity, its second vehicle model. The company has been working to amp up production and deliveries, and has estimated it will produce 20,000 vehicles in 2025, more than double the year before. Prototype robotaxis developed by Lucid and Nuro are already in operation on Nuro's Las Vegas closed-circuit testing grounds. Lucid interim CEO Marc Winterhoff said Uber chose its SUV because the company can integrate the necessary hardware at its factory. Nuro's software will be added once Uber receives the vehicles. Winterhoff had said in a call with investors in May that the company was in advanced discussions with partners about using Gravity for autonomous vehicle purposes. 'This is a stepping stone on our journey to expand our tech leadership from electric vehicles and licensing into partnerships in other areas,' Winterhoff told Bloomberg this week. 'A lot can happen in six years. I really see this as the first starting point.' Lucid also has been working on advanced driver systems and announced earlier this year that it had partnered with King Abdullah University of Science and Technology in Saudi Arabia. Winterhoff said the company still plans to work on its own autonomous and driver assistance technology. This week Lucid separately announced it's adding hands-free drive and lane change assist to its software suite. Carlson and Lung write for Bloomberg.
