Uber and Lucid Motors form robotaxi alliance
Key points:
- Cooperation: Uber wants to cooperate with the e-car manufacturer Lucid Motors and the autonomous driving technology company Nuro.ai to build a robotaxi fleet.
- Goal: 20,000 vehicles vehicles are to be produced over the next six years, with operations starting end of 2026 in the USAwith subsequent global expansion.
- Vehicle basis: The Robotaxi is based on the Lucid Gravity SUVwith a range of over 700 km range and modern sensor technology (lidar, radar, cameras).
- Technology: Nuro supplies the AI software ("Nuro Driver") for autonomous driving at level 4 (without driver).
- Investments: Uber invests 300 million dollars in Lucid and additionally several hundred million in Nuro.
Background to the companies
- Nuro: Previously specialized in autonomous delivery vehicles, founded by former Waymo engineers.
- Lucid: E-car startup with production in Arizona and financed by the Saudi sovereign wealth fund. Also produces in a plant in Saudi Arabia (capacity: 150,000 vehicles/year).
- Problems at Lucid: Missed sales targets (only 3300 vehicles sold in Q2), share price since the beginning of the year -41 %change of CEO, cash reserves shrunk significantly.
Market outlook
- The cooperation is seen as a strategic liberation for Lucid.
- The move positions Uber, Lucid and Nuro as competitors to Waymo and Tesla in the robotaxi sector.
- The Lucid share reacted positively to the news.