Lucid Stock Soars 30% as $300M Uber Robotaxi Deal Sparks Rerating Buzz

Lucid Group Inc. (NASDAQ:LCID) shares skyrocketed over 30% on Thursday following the announcement of a groundbreaking partnership with ride-hailing giant Uber Technologies Inc. (NYSE:UBER)

The electric vehicle manufacturer secured a massive $300 million investment from Uber as part of an ambitious robotaxi deployment program that could reshape the autonomous vehicle landscape. This strategic alliance represents a significant milestone for Lucid as it seeks to diversify beyond traditional consumer EV sales into the rapidly growing autonomous transportation market.

Uber’s $300 Million Robotaxi Deal: A Game-Changing Partnership for Lucid

Under the terms of the agreement, Uber will invest $300 million directly in Lucid while committing to deploy more than 20,000 robotaxis over the next six years.

The partnership brings together three key players: Uber as the ride-hailing platform and investor, Lucid as the vehicle manufacturer, and Nuro as the autonomous driving technology provider. Nuro, backed by Google (NASDAQ:GOOGL) and SoftBank (TYO:9984) Vision Fund, will develop Level 4 self-driving systems that can operate without human intervention under normal traffic and weather conditions.

The companies plan to launch their first robotaxi service in a major U.S. urban hub next year, with testing already underway at Nuro’s Las Vegas proving grounds. Lucid’s Gravity vehicles, featuring an impressive 450-mile range, were specifically chosen for their ability to reduce operational costs through extended driving periods and reduced charging frequency.

According to Lucid interim CEO Marc Winterhoff, this partnership opens up a “completely new” addressable market that the company has yet to penetrate, representing a significant diversification opportunity beyond traditional consumer sales.

This deal follows Uber’s existing partnership with Alphabet-backed Waymo, which has already expanded services to Atlanta and Austin, Texas.

Lucid Group Shares Jump on Robotaxi Deal

As of Thursday’s market activity, Lucid Group shares closed at $2.9985, representing a dramatic 30.94% surge (+$0.7085) from the previous day’s close of $2.29.

The stock showed remarkable volatility with a day’s range between $2.8300 and $3.1899, while trading volume reached an exceptional 438,799,205 shares compared to its average volume of 128,668,235. Despite the impressive daily gain, LCID remains well below its 52-week high of $4.4300, though it has recovered significantly from its 52-week low of $1.9300.

The company’s market capitalization currently stands at $9.147 billion, with a beta of 0.82 indicating relatively lower volatility compared to the broader market. Notably, Lucid shows negative earnings per share (EPS) of -$1.1900, reflecting the company’s current growth investment phase typical of emerging EV manufacturers.

The 1-year price target estimate of $2.53 suggests analysts had been cautious about the stock’s prospects before this major partnership announcement.

Meanwhile, Uber Technologies showed a more modest response, trading at $90.36 with a slight decline of -0.43% (-$0.39) as investors digested the $300 million investment commitment.

With a market cap of $189.084 billion and a more established financial profile featuring a PE ratio of 15.84 and positive EPS of $5.71, Uber’s stock reflects the stability of a mature technology platform. The partnership represents a strategic investment for Uber in expanding its autonomous vehicle capabilities while maintaining its core ride-hailing business model.

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