Uber partners with Lucid and Nuro to develop robotaxis for its rideshare network. Uber to invest $300 million in Lucid and buy 20,000 robotaxis. Lucid’s shares rose 36% after the deal. Uber has over a dozen autonomous driving partnerships with companies like Waymo, Pony AI, Wayve, Volkswagen, and Mobileye.

The partnership with Lucid is set to launch in a major US city in late 2026 before expanding. Lucid reported a net loss of $366 million in Q1. Wedbush analysts say the deal may damage Uber’s relationship with Waymo. Bank of America predicts the autonomous vehicle market could be worth $1.2 trillion by 2040, benefiting companies like Tesla and Waymo.

Uber’s partnership with Lucid and Nuro may impair its capital efficiency story. Wedbush notes that making 20,000 self-driving AVs for a single client may require more capital. Bank of America also sees potential benefits for insurance providers, sensor-makers, chip giant Nvidia, and farming and equipment manufacturers like Caterpillar and John Deere.

Read more at Yahoo Finance: Uber Paying $300M Fare in Robotaxi Deal