Lucid Shares Soar On Robotaxi Alliance With Uber, Nuro

America’s robotaxi race is entering a new phase, inching closer and closer to a hyperscaling inflection point. With Waymo rapidly expanding across U.S. cities and Tesla’s robotaxi fleet launching in Austin, Texas, this June, the momentum is building. Now, a new alliance emerges—Uber Technologies, EV maker Lucid Group, and autonomous driving startup Nuro—is preparing to enter the robotaxi market with a  “next-generation premium global robotaxi program” slated to launch in a major U.S. city in the second half of 2026. 

A press release from Lucid revealed that Uber will launch a robotaxi program late next year, deploying 20,000 Lucid Gravity vehicles equipped with the Nuro Driver Level 4 autonomy system. 

“Uber aims to deploy 20,000 or more Lucid vehicles equipped with the Nuro Driver over six years. The vehicles will be owned and operated by Uber or its third-party fleet partners and made available to riders exclusively via the Uber platform,” the struggling EV maker stated. 

The ride-sharing company plans to invest several hundred million dollars into both Lucid and Nuro, including a $300 million commitment to Lucid. A portion of that funding will go toward upgrading Lucid’s assembly line to integrate Nuro’s autonomous hardware into its Gravity SUVs. 

Lucid noted, “The first Lucid-Nuro robotaxi prototype is already operating autonomously on a closed circuit at Nuro’s Las Vegas proving grounds.” 

In markets, Lucid shares jumped as much as 62% in premarket trading in New York. As of Wednesday’s close, the stock was down 24% on the year. Shares remain heavily shorted—about 32% of the float, or roughly 395 million shares, are sold short, with a days-to-cover ratio around 2.9—leaving room for a potential squeeze during the cash session. Since the peak of the Covid-era mania in 2021, the stock is down 95% from its highs.

Lucid has faced ongoing challenges in recent years, mirroring broader struggles across the EV industry amid an extended price war and softening demand. The eventual rollback of federal EV tax credits under President Trump’s administration could add further pressure, creating additional headwinds for manufacturers already grappling with profitability issues.

A recent Goldman note suggests that the U.S. robotaxi market is poised for significant growth over the next decade. The report offers valuable insights, providing a framework for understanding where the industry is headed before 2030. Read the note here…

And the robotaxi race begins. Next comes trucking…