Lucid Stock Climbs After Exclusive Uber–Nuro Robotaxi Deal
The partnership offers a potential revenue lifeline to a company wrestling with weak earnings, a planned 18% U.S. staff reduction, an active securities class action.
Overview
- Shares jumped about 15.6% in Friday trading, peaking near $5.95 on roughly 35 million shares as investors increased buying on the partnership news.
- Lucid was named the exclusive vehicle supplier to Uber and Nuro’s robotaxi program and will supply Gravity SUVs with commercial launches targeted for 2027 in the San Francisco Bay Area and Houston.
- The company is already building production-validation robotaxis at its Arizona plant and assembling an engineering fleet of about 100 Gravity-based vehicles for testing and safety validation.
- Uber has opened a roughly 50,000-square-foot depot and charging facility in Houston and is conducting supervised on-road testing with safety operators there.
- Lucid’s near-term outlook remains strained after a Q1 earnings and revenue miss, a roughly 18% U.S. workforce cut expected to save about $158 million annually, and an active securities class action while Wall Street stays broadly cautious with a consensus reduce rating.