Overview
- Reuters reported on June 3 that Uber committed about $500 million to self‑driving startup Nuro as part of a three‑way plan with Lucid to deploy nearly 35,000 robotaxis using Lucid Gravity SUVs.
- Uber disclosed an expanded Lucid stake in a Schedule 13G filed April 21 showing holdings of 37.75 million shares that made it Lucid’s second‑largest institutional investor.
- Lucid’s stock has plunged since the partnership announcements and reverse split, leaving Uber with an unrealized loss of roughly 64–65% on its combined $500 million Lucid investment.
- Uber’s own shares have hit 52‑week lows this week even as Wall Street remains largely positive, with 49 of 56 analysts rating the stock a Buy and an average price target near $106.80.
- The deals sit inside a broader push that includes programs in Munich, San Francisco and a London waitlist, small workforce trims and possible M&A interest in Delivery Hero, showing Uber is spending now to preserve long‑term robotaxi optionality while regulators and pilots determine near‑term rollout timing.