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Uber's $300M Boost Propels Lucid Shares Skyrocketing 50% in Robotaxi Venture

Lucid Group's Strategic Leap with Uber and Nuro

In a groundbreaking move, Lucid Group's shares experienced an unprecedented surge, climbing over 50% in premarket trading this Thursday. This remarkable uptick follows the announcement of a hefty $300 million investment from Uber, marking the inception of a pioneering autonomous robotaxi initiative.

The Future of Autonomous Mobility

Collaborating with Uber and the self-driving technology innovator Nuro, Lucid is set to revolutionize urban mobility. The ambitious plan involves deploying 20,000 Lucid vehicles, all equipped with Level 4 autonomy, over the next six years. These vehicles, based on the Lucid Gravity platform and enhanced by Nuro's cutting-edge "Nuro Driver" AI system, will be operational across numerous markets under Uber's and its partners' stewardship. The initiative is slated to debut in a major U.S. city next year, setting a new benchmark for autonomous transportation.

Financial Maneuvers and Market Response

In tandem with this partnership, Lucid has taken a strategic financial step by filing a preliminary proxy statement with the SEC for a 1-for-10 reverse stock split. This move, coupled with the Uber investment, has propelled Lucid Group's stock to soar by 50.66%, reaching $3.34 at 8:33 am ET, signaling strong market confidence in Lucid's vision and potential.