Uber Announces Partnership for Deployment of 20,000 Robotaxis

Uber has revealed a collaboration to introduce over 20,000 robotaxis within the next six years, responding to the escalating interest in autonomous vehicles. The ride-hailing company has joined forces with Lucid, an electric vehicle manufacturer, and Nuro, an autonomous vehicle startup. The partnership entails Uber's $300 million investment in Lucid, with Nuro responsible for developing the self-driving technology for Lucid.

This technology will be utilized to provide Uber with robotaxis over the duration of the agreement, and Nuro will also receive a multi-hundred-million-dollar investment. Lucid's stock surged by 30% following the announcement, while Uber's shares experienced a marginal increase. The companies are aiming to launch the robotaxis in a major U.S. urban center next year. Uber CEO Dara Khosrowshahi expressed excitement about the collaboration, highlighting the potential to introduce autonomous driving to a wider global audience. Lucid's interim CEO, Marc Winterhoff, emphasized that the partnership presents an opportunity for the electric vehicle maker to tap into a previously untapped market.

Nuro, with support from Google and the SoftBank Vision Fund, will offer 'level 4 self-driving system' software, capable of driving passengers without human intervention under normal traffic and weather conditions. This partnership with Lucid and Nuro comes after Uber's alliance with Alphabet-backed Waymo, which expanded its service to Atlanta and Austin earlier this year. Lucid indicated that the 450-mile range for its Gravity vehicles is expected to reduce costs, charging times, and improve accessibility. Nuro stated that the deal represents a blueprint for a commercially viable and globally scalable robotaxi program.