Lucid Motors secured a $300 million deal with Uber and Nuro to develop a fully autonomous version of the Lucid Gravity SUV for Uber's fleet. This announcement led to a nearly 30% rise in Lucid's stock price. The partnership will leverage Nuro’s level-four autonomous driving technology. Uber plans to purchase at least 20,000 of these vehicles. Additionally, Uber invested hundreds of millions in both Lucid and Nuro, signaling its commitment to the autonomous vehicle industry amid other collaborations with companies like Baidu and Waymo.
Investors reacted positively to Lucid's $300 million deal with Uber and Nuro, leading to a 30% increase in Lucid's stock price after the announcement.
The partnership aims to develop a fully autonomous version of Lucid's Gravity SUV, which will be used exclusively in Uber's fleet with level-four autonomy.
Uber has committed to purchasing at least 20,000 autonomous vehicles from Lucid, which reflects a significant investment in the future of autonomous transport.
Uber's recent partnering activities with Baidu and Waymo also demonstrate a strategic focus on expanding its involvement in the autonomous vehicle sector.
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