Latest news with #LucidGravity
Business Insider
3 days ago
- Business
- Business Insider
Lucid Stock (LCID): Morgan Stanley Sees ‘Strategic Opportunities' in Uber Deal Ahead of Q2 Results
Luxury electric vehicle (EV) maker Lucid Group (LCID) will report its Q2 results on August 6. The stock gained over 36% on Thursday after the company announced a new partnership with Uber (UBER) and autonomous tech startup Nuro. The three companies plan to deploy 20,000 Lucid Gravity SUVs, equipped with Nuro's self-driving technology, on Uber's network over the next six years. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Following the news, Top Morgan Stanley analyst Adam Jonas reiterated a Hold rating on Lucid with a $3.00 price target. Four-star analyst Adam Jonas believes the Uber-Nuro deal shows that Lucid is expanding its focus beyond EVs and starting to pursue 'AI-enabled autonomy' through strategic partnerships. Analyst Sees Long-Term Value in the Uber Deal Jonas highlighted Lucid's upcoming Gravity SUV as a key part of the company's next growth phase. He believes the deal shows Lucid's potential to play a bigger role in the AI and self-driving space. As part of the deal, Uber will invest $300 million in Lucid. While the amount is relatively small compared to Lucid's ongoing cash needs, Jonas believes it could provide short-term support as Lucid works to ramp up Gravity production. Although Morgan Stanley remains cautious on the stock, the firm views the deal as an important step that could lead to more partnerships in AI, EV technology, and global markets, helping Lucid strengthen its position in the fast-growing autonomous driving space. What's Ahead for Lucid Stock? Looking ahead into the Q2 earnings season, Wall Street forecasts a Q2 2025 loss of $0.22 per share, an improvement from the $0.34 per share loss in the same quarter last year. Meanwhile, revenues are expected to rise by 41% from the same quarter last year, reaching $283.2 million, according to data from the TipRanks Forecast page. Investors will be watching closely for updates on Gravity production, spending levels, and any early signs of revenue growth tied to these new partnerships. Is LCID Stock a Buy? The stock of Lucid Group has a consensus Hold rating among ten Wall Street analysts. That rating is currently based on one Buy, eight Hold, and one Sell recommendations issued in the past three months. The average LCID price target of $2.70 implies 13.46% downside from current levels.
Yahoo
3 days ago
- Automotive
- Yahoo
LCID stock price surges as new deal sets up Lucid Motors to take on Waymo and Tesla
Investors are betting on a bright future for Lucid after the Silicon Valley-based electric vehicle (EV) maker announced a $300 million deal to create a robotaxi program with ride-booking giant Uber and autonomous vehicle startup Nuro. This new tax deduction in Trump's 'big, beautiful bill' lets people cash in on charitable donations up to $2,000. Here's what to know These are the 3 best questions to ask at the end of your job interview Southwest Florida's housing market is undergoing a material home price correction—here's why The companies' partnership was announced early Thursday. By market opening, the stock price for Lucid (Nasdaq: LCID) had surged nearly 30% and continued to rise gradually through the morning. After an initial drop, Uber stock (NYSE: UBER) also started a slow rise. Together, the companies are working to create a fully autonomous version of the Lucid Gravity, an electric SUV launched earlier this year, for exclusive use in Uber's U.S. fleet. The vehicles will be equipped with a Level 4 autonomous driving system developed by Nuro. (Level 4 is the highest level of autonomy—the ability to act without human intervention—currently available in a commercial vehicle.) 'We believe this partnership will demonstrate what's possible when proven AV technology meets real-world scale,' Jiajun Zhu, Nuro's cofounder and CEO, said in a statement. A proof-of-concept vehicle has already been created and is operating autonomously in Nuro's 'proving grounds' in Las Vegas. As part of the partnership, Uber has committed to buying at least 20,000 of these vehicles, Nick Twork, a Lucid spokesperson, told Fast Company. Beyond the vehicles, Uber also invested $300 million in Lucid and 'hundreds of millions of dollars' in Nuro, according to Twork and a Nuro spokesperson, respectively. These investments follow other Uber partnerships with autonomous vehicle companies, signaling the company's commitment to ramping up its involvement in the autonomous vehicle industry. Earlier this week, Uber announced a multiyear partnership with Baidu (Nasdaq: BIDU), a Chinese technology company deploying autonomous vehicles in non-U.S. markets. Within the U.S., Uber is also working with Waymo—a partnership that brought robotaxis to Austin and Atlanta earlier this year. 'This is the start of our path to extend our innovation and technology leadership into this multitrillion-dollar market,' Marc Winterhoff, Lucid's interim CEO, said in a statement. Lucid reported a Q1 2025 revenue of $235 million, a year-over-year increase of 36%, and a net loss nearly 50% lower than the same quarter last year—$366 million compared with 2024's $681 million. The Lucid Gravity SUVs commissioned by Uber are expected to be on the road in a yet-unnamed major U.S. city by next year. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
3 days ago
- Automotive
- Los Angeles Times
Uber partnering with Lucid, Nuro to launch robotaxis in 2026
Uber Technologies Inc. is teaming up with electric vehicle maker Lucid Group Inc. and self-driving tech startup Nuro to launch a robotaxi fleet. Uber announced Thursday it or its third-party partners will purchase and operate Lucid Gravity SUVs outfitted with Nuro Driver technology on its ride-sharing network. The company aims to launch the first vehicle later in 2026 in an unidentified major US city, with plans to deploy at least 20,000 of the robotaxis over six years. The ride-sharing company also announced it's making separate multi-hundred-million dollar investments in both Lucid and Nuro. That funding will include $300 million for Lucid that will be used in part to upgrade to its assembly line to integrate Nuro hardware into the Gravity vehicles, according to the EV company. Separately, Lucid also said it plans a 1-for-10 reverse stock split, subject to shareholder approval. The Lucid-Nuro deal adds to more than a dozen partnerships that Uber has announced with autonomous vehicle tech developers and carmakers, including Waymo and Volkswagen Group of America, as it aims to be the go-to commercial app for robotaxis. Earlier this week, Uber announced a partnership with Chinese AV maker Baidu to deploy robotaxis in several non-US markets. Currently autonomous rides are available through the Uber app in Phoenix, Austin, Atlanta and Abu Dhabi. The substantial investments by Uber further underscore its strategy shift away from developing autonomous technology in-house, as it did under co-founder and former Chief Executive Officer Travis Kalanick, in favor of partnering with and investing in firms that specialize in AV. Uber has monetized some of its equity stakes in firms such as autonomous freight company Aurora Innovation Inc. to fund future investments in the driverless ecosystem, CEO Dara Khosrowshahi has said. Competition is intensifying in the still-nascent robotaxi market, with EV giant Tesla Inc. rolling out its long-promised service in Austin last month and CEO Elon Musk pledging to expand to other cities. Uber first partnered with Nuro in 2022 on food delivery robots. The following year Nuro pivoted from building and scaling custom AVs to focusing on developing autonomous software. The Uber partnership also adds a notable customer for Lucid, one of the few pure play EV makers in the US, as it works to popularize Gravity, its second vehicle model. The company has been working to amp up production and deliveries, and has estimated it will produce 20,000 vehicles in 2025, more than double the year before. Prototype robotaxis developed by Lucid and Nuro are already in operation on Nuro's Las Vegas closed-circuit testing grounds. Lucid interim CEO Marc Winterhoff said Uber chose its SUV because the company can integrate the necessary hardware at its factory. Nuro's software will be added once Uber receives the vehicles. Winterhoff had said in a call with investors in May that the company was in advanced discussions with partners about using Gravity for autonomous vehicle purposes. 'This is a stepping stone on our journey to expand our tech leadership from electric vehicles and licensing into partnerships in other areas,' Winterhoff told Bloomberg this week. 'A lot can happen in six years. I really see this as the first starting point.' Lucid also has been working on advanced driver systems and announced earlier this year that it had partnered with King Abdullah University of Science and Technology in Saudi Arabia. Winterhoff said the company still plans to work on its own autonomous and driver assistance technology. This week Lucid separately announced it's adding hands-free drive and lane change assist to its software suite. Carlson and Lung write for Bloomberg.
Yahoo
3 days ago
- Automotive
- Yahoo
Uber partners with Lucid and Nuro on robotaxi service
Uber Technologies has partnered with Lucid and Nuro for a 'next-generation premium global robotaxi programme', which is set to launch robotaxi service later next year in a major US city. The service will combine Lucid Gravity's software-defined vehicle architecture, Nuro Driver- Nuro's Level 4 self-driving system, and the global network of Uber to provide a fully integrated robotaxi experience. Uber aims to acquire and deploy 20,000 or above Nuro Driver-equipped Lucid vehicles over a six-year period starting 2026 with a significant investment. Uber or its third-party fleet partners will own and operate these vehicles and make them available exclusively via the Uber platform. The inaugural Lucid-Nuro robotaxi prototype is already in operation at Nuro's proving grounds in Las Vegas. Lucid Interim CEO Marc Winterhoff said: "This investment from Uber further validates Lucid's fully redundant zonal architecture and highly capable platform as ideal for autonomous vehicles, and our industry-leading range and spacious well-appointed interiors, as ideal for ridesharing. "This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market." The Lucid Gravity's advanced technology and long range make it an ideal candidate for a scalable robotaxi service, while the Nuro Driver's AI-powered software and automotive-grade hardware offer reliability and cost-efficiency at scale, according to the companies. Nuro is said to spearhead the development and validation of the robotaxi's safety case, ensuring safe operation through simulations, testing, and supervised on-road trials. Recently, Lucid Group announced a significant update to its DreamDrive Pro suite of advanced driver assistance systems (ADAS), launching Hands-Free Drive Assist and Hands-Free Lane Change Assist1 to its EV lineup. Also, Uber, in partnership with Baidu, announced that they will deploy several Baidu's Apollo Go autonomous vehicles on its platform in markets outside mainland China and the US. "Uber partners with Lucid and Nuro on robotaxi service" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
3 days ago
- Automotive
- USA Today
Lucid stock pops 43% after Uber announces robotaxi. What to know about the Tesla rival
Lucid stock shoots for the moon as EV company reveals Uber partnership. Robotaxis on the way. Lucid Group Inc. (NASDAQ:LCID) stock is on the move as the trading week comes to a close. The share price popped over 34% in the last five trading days from $2.29 a share at Monday's open to a price of $3.08 a share at the time of reporting. The stock has been trading under $3.00 a share since late February ,but jumped 43% from Wednesday's $2.29 a share close to $3.30 a share at 11:30 PM on Thursday. So, why is the stock making huge gains this week? Lucid teams up with Uber and Nuro to create robotaxi service Watch out Waymo and Tesla, there's a new robotaxi service in town. Uber announced that it is investing $300 million in electric vehicle automaker Lucid on Thursday. The duo will partner with robotics company Nuro to create a Robotaxi service featuring Uber's rideshare platform, Lucid's electric vehicles, and Nuro's autonomous driving technology. Lucid's recent stock price action is due to the announcement of this partnership. Uber's share price did not rise in reaction to the news, unlike the huge movements from Lucid's share price. The rise of the robotaxi: A multi-billion dollar bet Over 1,500 autonomous vehicles operate commercially in five American cities, according to Goldman Sachs. A whopping 35,000 autonomous vehicles could operate in the U.S. by 2030, based on Goldman Sachs research. If these projections are accurate, autonomous vehicles could "generate $7 billion in annual revenue". Waymo raised $5.6 billion in the fall of 2024 to expand its robotaxi service, according to CNBC. Tesla recently rolled out its robotaxi service in Austin, Texas in late June. Companies are betting billions of dollars on the emerging robotaxi rideshare market. Uber's investment into Lucid and partnership with Nuro is an effort to level the playing field. The company is looking to deploy 20,000 Lucid Gravity SUVs equipped with Nuro's advanced driving technology to launch the autonomous vehicle robotaxi program. Is the Lucid Gravity a good electric vehicle? The Lucid Gravity electric SUV boasts a 450-mile EPA estimated driving range, which is significantly higher than the maximum range of best-selling EVs like the Tesla Model Y (357 miles). Lucid recently set a Guinness World Record for driving range with its electric car, the Lucid Air Grand Touring (749 miles). The 2026 Lucid Gravity seven-seat electric SUV boasts "magical amounts of interior space" and the "quickest charging speeds in America" according to a vehicle review by InsideEVs. It can recuperate 200 miles of its total driving range in around 11 minutes and is compatible with the Tesla Supercharger network. Nuro, the autonomous vehicle technology component of the robotaxi partnership, has been "operating fully autonomous vehicles on roads for more than four years" as of 2025, said Co-Founder and CEO Jiajun Zhou. It operates in markets like Texas, California, and Arizona. The company logged "over a million miles of autonomous driving without any accident" according to the CEO.
