Uber $UBER ( ▲ 0.1% ) is partnering with the electric vehicle maker Lucid Motors $LCID ( ▼ 2.56% ) in a new massive deal.
The details: The partnership—announced Thursday—will include the ride-hailing tech company investing $300 million into Lucid Motors to deploy 20,000 self-driving robotaxis over the next six years.
The California-based robotics company, Nuro, will develop the autonomous technology used in the Lucid robotaxis.
Uber plans to roll out the first Lucid robotaxis next year in a major urban hub—then scale up the service as demand grows.
What they’re saying: “We’re thrilled to partner with Nuro and Lucid on this new robotaxi program, purpose-built just for the Uber platform, to safely bring the magic of autonomous driving to more people across the world,” said Dara Khosrowshahi, CEO of Uber.
Why it matters: This gives Lucid a major new revenue stream beyond selling luxury cars to individual buyers.
This investment provides the company with guaranteed income and validates demand for their technology in the growing autonomous vehicle market.
As Lucid interim CEO Marc Winterhoff put it, the Uber partnership gives the EV maker a “completely new” market to penetrate.
Between the lines: The self-driving robotaxi service market has been gaining a lot of momentum in recent years—after a period in which some were questioning the viability of autonomous vehicles.
Waymo—which uses the all-electric Jaguar I-Pace—provides more than 250,000 paid trips each week across Phoenix, San Francisco, Los Angeles, and Austin, with plans to expand its robotaxi service to Atlanta, Miami, and Washington, D.C. in 2026.
The global robotaxi market is projected to reach $118.61 billion by 2031 at a Compound Annual Growth Rate (CAGR) of 80.8%—with the robotaxi market in the U.S. expected to reach 3.30 billion by 2027.
Looking ahead: This partnership gives Lucid a clear path into the high-growth robotaxi market and revenue stability beyond the slow-moving luxury EV segment. It also provides Lucid with exposure to Uber’s massive user base and further tech validation from Nuro.
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