Lucid Closes $300M Uber Investment for Robotaxi Program

Lucid Group has secured a $300 million investment from Uber Technologies to support the development and deployment of a next-generation, premium robotaxi program. This strategic partnership aims to launch the robotaxi service in a major U.S. city next year, combining Lucid's advanced electric vehicle technology with Uber's ride-hailing platform and autonomous driving systems. Uber plans to deploy over 20,000 Lucid vehicles for this initiative over six years, highlighting a significant collaboration between the EV and ride-sharing sectors. Analysts have responded positively, with price targets for Lucid stock ranging from $10 to $70 and an average rating of 'Hold' based on 16 brokerages, while some forecasts suggest substantial upside potential. The investment signifies strong confidence in Lucid’s technology and growth prospects, potentially impacting stock performance and related crypto assets tied to sustainable technologies. Both companies emphasize this partnership as a pivotal step toward revolutionizing urban transportation through scalable, autonomous electric vehicles.