Lucid Gains Momentum with Major Uber Partnership and European Expansion

Lucid Group shares climbed 5.2% to close at $19.35, fueled by two significant developments: a substantial $300 million investment from Uber and the official European debut of its Gravity SUV.

On September 4, ride-hailing leader Uber formalized a major partnership with Lucid Group through a $300 million investment. This capital infusion solidifies a previously announced initiative to deploy a fleet of autonomous vehicles. Uber intends to put at least 20,000 Lucid Gravity SUVs equipped with Nuro’s Level 4 autonomous driving technology into service over the coming six years. This collaboration serves as a powerful endorsement of Lucid’s electric vehicle platform and unlocks substantial new revenue streams beyond its core consumer business. Production of these vehicles will occur at Lucid’s manufacturing facility in Arizona.

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