17.07.2025 13:17
Lucid Group (NASDAQ: LCID) shares experienced a dramatic 46.72% surge in pre-market trading on Thursday. This significant jump followed the announcement of a substantial $300 million investment from Uber Technologies (NYSE: UBER), solidifying a six-year partnership focused on the development and deployment of robotaxis.
This strategic alliance involves Uber deploying at least 20,000 Lucid vehicles, each integrated with Nuro's cutting-edge Level 4 autonomous driving technology. These vehicles will be rolled out across numerous global markets over the next six years, with initial deployments in a major U.S. city anticipated for next year. The agreement also includes a separate, multi-hundred-million dollar investment in Nuro to further refine the self-driving system specifically designed for Lucid's Gravity vehicles.
Lucid's interim CEO, Marc Winterhoff, hailed the Uber investment as strong validation of the company's technological prowess. He emphasized the suitability of Lucid's vehicles for autonomous driving, highlighting their advanced zonal architecture, impressive range, and luxurious interiors as key selling points for the ride-sharing market. Winterhoff also framed this partnership as a crucial step in Lucid's expansion into the lucrative multi-trillion dollar autonomous vehicle sector.
This collaboration marks a pivotal strategic shift for Lucid, moving beyond its existing concentration on high-end consumer vehicles to embrace the burgeoning commercial robotaxi market. Prototypes of Lucid's robotaxi are already undergoing rigorous testing at Nuro's Las Vegas facility, and upon completion, these vehicles will be owned and operated by Uber or its affiliated fleet partners.
Further developments on Thursday included Lucid's submission of a preliminary proxy statement to the SEC. This filing outlines a proposed 1-for-10 reverse stock split, which will be subject to shareholder approval at a special meeting. Lucid anticipates that this reverse split will enhance the stock's appeal to a broader range of investors, reassuring shareholders that the move will not alter their ownership stake or voting rights, except for potential adjustments related to fractional shares. The proposed reverse stock split requires a majority vote to be enacted.
