Lucid Group (LCID -2.34%) soared in value following the announcement of its partnership with Uber Technologies. According to the deal's terms, Uber will invest $300 million in the electric vehicle (EV) maker.
Rivian (RIVN 1.30%) and Lucid (LCID -2.17%) were both hot electric vehicle (EV) stocks. Rivian went public with an IPO price of $78 on Nov. 10, 2021, and its shares more than doubled to a record closing price of $172.01 just a week later.
Lucid Group (LCID) closed at $3.08 in the latest trading session, marking a -1.6% move from the prior day.
This comes after the company made a joint announcement with the world's largest ride-sharing company, Uber Technologies NYSE: UBER. The two are forging a significant partnership in autonomous vehicles (AVs).
Lucid Group, Inc.'s partnership with Uber Technologies, Inc. for 20,000 Gravity SUVs is a game changer, unlocking new delivery growth and entry into the robotaxi market. Uber's $300M equity investment signals a long-term strategic relationship. The collaboration leverages Nuro's Level 4 autonomy and Uber's scale, giving Lucid access to global ride-hailing markets and potential future delivery upside if pilot projects succeed.
Famous investor Benjamin Graham said: "In the short run, the market is a voting machine, but in the long run, it is a weighing machine."
Stock splits often generate headlines, and investors typically cheer them.
Key Points in This Article: Lucid Motors‘ (LCID) $300 million Uber Technologies (UBER) deal for 20,000 robotaxis over six years sparked a 36% stock surge, but the modest annual volume increase offers limited financial impact.
Uber Technologies, Inc.'s partnership with Lucid and Nuro to deploy 20,000 autonomous SUVs marks a major, real-money commitment to AV, not just another hype cycle. Lucid's advanced EV tech is validated by this deal, but its financial struggles and execution risks remain—this is not an instant turnaround. Uber gains strategic control over its AV future, cutting labor costs and owning the customer relationship, making this a meaningful catalyst for the company.
Lucid Group, Inc.'s partnership with Uber Technologies, Inc. and Nuro to deploy 20,000 Gravity EVs as robotaxis is a major catalyst for delivery and sales growth. This deal addresses Lucid's biggest weakness—slow delivery scale-up—and opens the door to the lucrative autonomous vehicle market. LCID stock's 36% surge and breakout above key moving averages signal renewed investor optimism and potential for further upside momentum.
Lucid (NASDAQ: LCID) saw its shares soar by more than 36% in a single day following the announcement of a high-profile partnership with Uber and autonomous vehicle startup Nuro, marking a potential turning point for the embattled EV maker.
Electric vehicle (EV) stock Lucid Group Inc (NASDAQ:LCID) is surging today, up 38.8% to trade at $3.18 at last check, after the company announced Uber Technologies (UBER) will invest $300 million in a robotaxi deal.