Latest news with #MarcWinterhoff
Yahoo
a day ago
- Automotive
- Yahoo
Lucid Rockets Higher After 2 Massive Announcements
Key Points Uber will take 20,000 Lucid vehicles with driverless technology for a robotaxi service. Uber's service will start late next year; a Lucid-Nuro prototype is already in testing. Lucid's reverse stock split, if completed, likely won't be well received by the market. 10 stocks we like better than Lucid Group › Don't look now but Lucid Motors (NASDAQ: LCID) just received another boost of momentum, shooting the stock over 40% higher Thursday. The driving force behind its move higher was blasted across headlines: Uber Technologies (NYSE: UBER) to invest $300 million in Lucid to form robotaxi partnership. The great news for investors is that aside from the phenomenal opportunity it presents, is that it could be the last thing it needs to prove to Wall Street. More on this in a second. But don't overlook the second announcement Lucid made Thursday regarding a potential reverse stock split. Let's dive into both developments and what they mean for investors. Show me the money! Uber is the driving force behind this three-headed monster partnership. The deal calls for a new robotaxi service that will take an industry-leading, software-defined vehicle of Lucid's new Gravity SUV, infuse it with Nuro's level 4 autonomy system, and deliver a robotaxi service using Uber's vast global network and fleet management. Uber is targeting a fleet of 20,000 or more Lucid vehicles over the next six years, and the first Lucid-Nuro robotaxi prototype is already operating autonomously on a closed circuit course at Nuro's Las Vegas operations. This deal is big news for Lucid, and the 20,000 vehicles evenly spread over six years is still massive considering the automaker delivered just under 6,500 vehicles for the first half of 2025 and hopes to deliver roughly 20,000 for the full year after accelerating production for the Gravity SUV as we speak. But this development goes beyond the vehicle demand, and it goes beyond the liquidity Uber's $300 million investment represents. This could finally prove to Wall Street that Lucid not only has the advanced technology needed to produce high-quality vehicles but demand for its technology from other companies. Lucid investors should have been insanely jealous when rival EV maker Rivian inked a partnership with Volkswagen to supply the former's technology and software stack for use in Volkswagen vehicles in a deal worth $5.8 billion. "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," said Marc Winterhoff, interim CEO at Lucid, in a press release. "This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market." Reverse stock split? Another development that was mostly overlooked thanks to the bombshell Uber and Nuro partnership, perhaps by public relations' design, was that Lucid filed a preliminary proxy statement with the Securities and Exchange Commission (SEC) to enact a special stockholders' meeting to authorize a reverse stock split of the company's class A common stock at a ratio of one-for-ten (1:10). Essentially, Lucid will consolidate its shares, and investors will receive one new share for every 10 of the old shares, and the price per share will multiply by 10. The value investors own is the same, and Lucid's market capitalization won't change; it'll simply boost the trading price of Lucid shares. Generally, a reverse stock split is not looked at favorably by the market, and oftentimes it's a company in financial distress, with a falling stock price and in danger of being delisted by a major stock exchange. In this case, with Lucid trading above $3 currently, the company isn't in immediate danger of being delisted as it would need to trade below $1 for 30 consecutive trading days. For Lucid, this is simply an attempt to make its stock more attractive to large investors that often have a minimum stock price they're allowed to invest in. Many institutional investors and mutual funds have this. What it all means Thursday was a very good day for Lucid. It proved it can package its technology for new revenue streams and inked a highly valuable investment worth $300 million from Uber, all while getting its product out in front of more and more consumers. This is exactly the type of deal Lucid investors were hoping for even if it isn't nearly as lucrative as Rivian's joint venture with Volkswagen. Furthermore, while the market generally disapproves of reverse stock splits, Lucid's doesn't appear to raise the typical red flags. As always, Lucid remains a high-risk, high-reward stock, and it isn't for the faint of heart as big swings such as Thursday's are sure to take place over the next few years. Should you invest $1,000 in Lucid Group right now? Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lucid Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool has a disclosure policy. Lucid Rockets Higher After 2 Massive Announcements was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
4 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
TimesLIVE
4 days ago
- Automotive
- TimesLIVE
Uber partners with Lucid, Nuro in $300m robotaxi investment
Uber will invest $300m (R5,339,670,000) in electric vehicle maker Lucid in a robotaxi deal that aims to start with one major US city late next year, the companies said on Thursday. Over six years starting in 2026, Uber will acquire and deploy more than 20,000 Lucid Gravity SUVs that will be equipped with autonomous vehicle (AV) technology from startup Nuro, the three companies said in a statement. The agreement illustrates the renewed plans and push for financing for self-driving cabs years after a first wave of autonomous driving investment produced only a limited number of vehicles. Tesla has recently launched a robotaxi trial in Austin and Alphabet's driverless taxi unit Waymo is speeding up its expansion. As part of their announced deal, Uber will invest hundreds of millions in Lucid and Nuro, which supplies self-driving technology to carmakers, the joint statement said. Of that, $300m will go to Lucid, the EV maker said in a separate filing to the US securities and exchange commission on Thursday. Lucid shares surged more than 26% to $2.95 (R52.50). They have fallen about 24% this year. Uber's latest move underscores its renewed push into the robotaxi space after exiting in 2020. Since then, Uber has pivoted to partnerships with several technology developers, including Waymo and Aurora. The deal with Lucid follows Uber's robotaxi agreement in April with Volkswagen that will supply its vans for commercial service planned for Los Angeles next year. Commercialisng AV tech has been much harder than anticipated with high costs, tight regulations and federal investigations forcing many, including General Motors' Cruise, to shut down. Some in the race include Zoox, which is testing a robotaxi without manual controls and plans to launch commercial services in Las Vegas this year. After years of missed promises, Tesla started a restricted trial with about a dozen of its Model Y SUVs in Austin, Texas, last month. CEO Elon Musk has said it will expand the service rapidly to other US cities this year. Waymo has been growing cautiously for years and operates in several US cities with about 1,500 vehicles. It crossed 160-million kilometres of autonomous driving this month. A prototype of the Lucid-Nuro robotaxi is operating autonomously on a closed circuit at Nuro's testing facility in Las Vegas, the companies said. "We are expanding beyond our traditional EV technology leadership and working on partnerships and going into areas that in the past we have not focused on," Lucid's interim CEO Marc Winterhoff told Reuters. Nuro, co-founded and led by former Waymo engineers, has expanded from making last-mile delivery vehicles to providing its self-driving technology for commercial and passenger vehicles. "We have other very active conversations going on the personal vehicle side, where we would integrate Nuro driver into vehicles that will be sold to end consumers," said Dave Ferguson, Nuro's co-founder and president. Nuro will need to apply for state level operating licences though it holds some licences from their previous delivery operations, he said. Separately, Lucid said it had proposed a one-for-10 reverse stock split of its class A common stock.
Business Insider
5 days ago
- Automotive
- Business Insider
Lucid Stock (LCID) Rockets Over 30% after $300M Uber Robotaxi Investment
Shares in electric vehicle maker Lucid (LCID) charged higher today after Uber Technologies (UBER) pledged to invest $300 million in a robotaxi deal. 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. Dozens of Markets The agreement which will start in late 2026 and last for 6 years will see Uber buying and deploying over 20,000 Lucid Gravity SUVs. They will be equipped with autonomous vehicle technology from startup Nuro. The aim is to start in one major U.S. city, but then roll out to 'dozens of markets' around the world. 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 first Lucid-Nuro robotaxi prototype is already operating autonomously on a closed circuit at Nuro's Las Vegas proving grounds. Uber said that the longer 450-mile estimated range of the Lucid Gravity would mean less frequent downtime for charging, minimizing costs and maximizing vehicle availability. '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,' said Marc Winterhoff, Interim CEO at Lucid. 'This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market.' Indeed, it promises to be a huge boost the company whose stock price has suffered this year with lower than expected deliveries and the departure of CEO Peter Rawlinson. Uber Push Uber said it would invest hundreds of millions of dollars in Lucid and Nuro. The move is another example of Uber's renewed push into the robotaxi space after exiting in 2020. Since then, it has pivoted to partnerships with several technology developers, including Alphabet (GOOGL) -owned Waymo and Aurora. It also signed a robotaxi agreement in April with Volkswagen (VWAGY) that will supply its vans for commercial service planned for Los Angeles next year. Other rivals include Tesla (TSLA), which recently launched a robotaxi trial in Texas. Uber will be hoping to boost its platform numbers which have been relatively static over the last few years. Is LCID a Good Stock to Buy Now? On TipRanks, LCID has a Hold consensus based on 1 Buy, 8 Hold and 1 Sell ratings. Its highest price target is $5. LCID stock's consensus price target is $2.70 implying a 13.88% downside.
Yahoo
5 days ago
- Automotive
- Yahoo
Why Shares of Lucid Are Accelerating Higher Today
Key Points Luxury EV maker Lucid is helping Uber to build a robotaxi fleet. The launch of the robotaxi service is expected in 2026. Uber plans on developing a fleet of 20,000 Lucid robotaxis or more. 10 stocks we like better than Lucid Group › There hasn't been a lot to power either the bulls or the bears over the past few days with respect to Lucid Group (NASDAQ: LCID). Shares of the luxury electric car (EV) manufacturer have mostly idled this week. After the stock closed at $2.29 last Friday, it closed at $2.29 again yesterday. Lucid announced a new partnership with Uber today, however, and it has the bulls' hearts racing. As of 10 a.m. ET, shares of Lucid are up 30.1%. Lucid is helping to build a robotaxi fleet Over the next six years, Uber plans on developing a fleet of 20,000 (or more) Lucid vehicles that will operate as robotaxis, which Uber will own and operate or its third-party fleet partners. Riders will have exclusive access to the robotaxi service through the Uber platform. Waxing optimistic about the company's potential, Marc Winterhoff, Lucid's interim CEO, stated, "This is the start of our path to extend our innovation and technology leadership into this multitrillion-dollar market." The robotaxi fleet will feature Lucid Gravity EVs that incorporate autonomous driving software from Nuro, a leader in self-driving car technology. The robotaxis will operate at Level 4 autonomy. To help support the development of the robotaxi fleet, Uber will make multimillion-dollar investments in Lucid, as well as Nuro. The companies expect the robotaxi service to launch in 2026 in a major U.S. city. Is it too late to go for a ride with Lucid stock? With Tesla so often receiving the lion's share of attention with robotaxi service, it's no wonder that Lucid investors are racing to pick up shares on news of the partnership with Uber. For prospective investors considering a position in Lucid, there's no rush to pile into the stock right now, but this is certainly an encouraging development for the company and may portend similar deals in the future for robotaxi service. Should you buy stock in Lucid Group right now? Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lucid Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,281!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,415!* Now, it's worth noting Stock Advisor's total average return is 1,059% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool has a disclosure policy. Why Shares of Lucid Are Accelerating Higher Today was originally published by The Motley Fool 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
