Lucid Group's stock soared 36% on 17 July, closing at £2.32 ($3.12), following a landmark partnership with Uber and Nuro to deploy 20,000 autonomous robotaxis.
This move positions Lucid to challenge Tesla and Waymo in the intensifying robotaxi market.
A Game-Changing Partnership with Uber and Nuro
Uber on 17 July announced a £223 million ($300 million) investment in Lucid and a multi-hundred-million-dollar commitment to Nuro to launch a premium robotaxi service using Lucid's Gravity SUV, equipped with Nuro's Level 4 autonomous technology.
The fleet, set to debut in a major US city in 2026, will be owned by Uber or third-party partners.
A prototype is already operational at Nuro's Las Vegas testing grounds, as confirmed by Lucid's interim CEO Marc Winterhoff on CNBC.
He said, 'This partnership opens a completely new market for Lucid.' X posts from @LucidMotors on 17 July 2025 state, 'Lucid's premium EVs. Nuro's proven L4 autonomy. Uber's global ride-hailing network. Together, we're launching a next-gen robotaxi fleet — 20K+ vehicles, starting in 2026.'
Lucid’s premium EVs. @nuro's proven L4 autonomy. @Uber's global ride-hailing network.
— Lucid Motors (@LucidMotors) July 17, 2025
Together, we're launching a next-gen robotaxi fleet — 20K+ vehicles, starting in 2026.
Read more about today’s announcement here: https://t.co/f7yAyyyt7j pic.twitter.com/bwspjdh1mr
This deal provides critical funding for Lucid, which reported £4.47 billion ($6 billion) in losses over the past two years.
Lucid's Stock Surge and Financial Context
Lucid's stock surged from £1.70 ($2.28) on 16 July 2025 to £2.32 ($3.12) on 17 July 2025, a 36% increase, which boosted its market cap to £5.3 billion ($7.1 billion).
The rally followed a year-to-date decline of 24%, with the stock hitting a year-low of £1.44 ($1.93).
The partnership news, coupled with Lucid's strong Q2 delivery of 3,309 vehicles, prompted Benchmark analysts to maintain a Buy rating, citing sufficient cash reserves to scale operations.
X posts from @marketsday on 18 July 2025 state, '$LCID jumped +36% Thursday on the news of its robotaxi partnership with $UBER.'
However, Lucid's proposed one-for-ten reverse stock split, announced on 17 July 2025, aims to stabilise its share price.
The deal enhances Lucid's competitive edge against Tesla and Waymo, though Wedbush analysts noted risks due to Uber's existing ties with Waymo.
Tesla's robotaxi efforts pose a formidable challenge to Lucid. On 7 July, Seeking Alpha reported Tesla's Austin pilot, involving 100 Model Y vehicles, aims for a mid-2026 commercial launch, aligning with Lucid's timeline.
Tesla's Full Self-Driving (FSD) system, tested on 60,000 beta testers, leverages billions of miles of driving data, as Elon Musk stated on 16 July 2025: 'Our data scale is unmatched.'
Competing in the Robotaxi Race
The robotaxi market is heating up, with Waymo operating 1,500 vehicles across US cities and Tesla testing a dozen Model Ys in Austin, as reported by Finimize on 18 July 2025.
Waymo's 100 million autonomous miles stand in contrast to Tesla's ongoing regulatory hurdles, as Elon Musk has not yet secured permits for broader testing.
Uber's prior exit from autonomous ventures, following a 2018 crash, makes this partnership a bold re-entry.
Lucid's 450-mile-range Gravity SUV offers a cost-effective edge, but Waymo's scale and Tesla's ambitions for Full Self-Driving remain formidable.
Nuro's president, Dave Ferguson, told The Verge on 17 July 2025, 'Uber spent a year vetting AV companies, and we were chosen.'
The service, potentially priced as a premium Uber Black offering, aims to reshape urban mobility.
Lucid's £223 million ($300 million) partnership with Uber and Nuro, announced on 17 July 2025, drove a 36% stock surge, positioning it as a key player in the robotaxi race against Tesla and Waymo.
The deal to deploy 20,000 Gravity SUVs by 2026 leverages Lucid's EV expertise and Nuro's autonomous tech, promising to redefine ride-hailing while bolstering Lucid's financial outlook.
