Latest news with #Nuro
Yahoo
7 hours ago
- Automotive
- Yahoo
Uber to add 20,000 self-driving Lucid Gravity SUVs to its ride-share platform
This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Dive Brief: Lucid Group announced a new collaboration with Uber and autonomous driving technology developer Nuro to deploy a minimum of 20,000 self-driving Lucid Gravity SUVs on Uber's ride-share platform, according to a July 17 press release. The luxury electric SUVs will be equipped with Nuro's 'Nuro Driver' autonomous driving system and will be deployed over the next six years in dozens of Uber's global markets, per the release. The vehicles will be owned and operated by Uber or by one of its third-party fleet partners. The first of the Lucid Gravity robotaxi deployments is planned for a major U.S. city next year. Dive Insight: As a software-based EV, the electrical and control architecture of the Lucid Gravity make it an ideal vehicle platform to install the Nuro Driver and scale deployment, according to the release. In addition, the Gravity's 450-mile EPA estimated range means less frequent downtime is needed for charging, which will help Uber to maximize the vehicles' availability on its platform. '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 Lucid interim CEO Marc Winterhoff. 'This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market.' Nuro was co-founded in 2016 by former Google employees Jiajun Zhu and Dave Ferguson. Prior to launching Nuro, Zhu, who serves as CEO, was a founding member of Google's self-driving program, which later spun off as Waymo, while Ferguson was a principal engineer. Google, Japan-based Softbank and other top venture capital firms are among Nuro's investors. Also as part of the partnership, Uber is investing $300 million in Lucid via a private placement, according to an SEC filing. However, Uber plans to make 'multi-hundred-million dollar investments' in both Nuro and Lucid, according to the release. The Nuro Driver technology stack includes automotive-grade hardware and AI-powered software. The vehicle sensor suite includes a combination of solid-state lidar, cameras and radars for safe navigation. Nuro's next-generation platform uses Nvidia Drive Thor automotive SoCs that delivers up to 2,000 teraflops of compute performance. It allows Nuro to streamline the platform for enhanced scalability and reduced costs. The system integrates an end-to-end AI model to quickly adapt to new driving environments and different vehicle platforms. The Nuro Driver will enable the Lucid Gravity to operate at SAE Level 4 autonomy on the Uber platform, meaning that vehicles can operate with no human intervention or oversight within predefined geofenced areas. According to Nuro, its automated driving system can respond to changing road and traffic control conditions in real-time, ensuring optimal performance in complex urban environments. 'We believe this partnership will demonstrate what's possible when proven AV technology meets real-world scale,' said Zhu, in the release. All of the necessary hardware for automated driving will be preinstalled on the Lucid Gravity SUVs during assembly, while Nuro's software will be activated once the vehicle is commissioned by Uber and deployed on its network, per the release. The first Lucid Gravity robotaxi prototype is currently being tested on a closed circuit at Nuro's Las Vegas proving grounds. In addition to its collaboration with Nuro, Uber is also working with rival Waymo to deploy robotaxis on its ride-hailing platform. Uber announced its multi-year strategic partnership with Waymo in May 2023. Last September, the two companies announced plans to deploy self-driving vehicles on the Uber platform in Austin, Texas, and Atlanta, with additional U.S. cities planned in the future. Waymo also plans to build its own robotaxis for its 'Waymo One' ride-sharing service as part of a similar partnership with Tier 1 supplier Magna International. In May, Waymo and Magna announced plans to convert 2,000 electric Jaguar I-PACE SUVs into robotaxis and add them to Waymo's platform. Recommended Reading Waymo, Magna to jointly build robotaxis at new Arizona factory 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
Yahoo
a day ago
- Automotive
- Yahoo
Uber to Roll Out 20,000 Lucid Gravity Robotaxis with Nuro Self-Driving Tech
Lucid Group (LCID, Financials) is going driverless and it's doing it in style. The EV maker has inked a game-changing partnership with Uber (UBER, Financials) and autonomous tech firm Nuro to launch a global fleet of robotaxis starting next year. Warning! GuruFocus has detected 4 Warning Signs with LCID. The alliance is a first-of-its-kind mashup: Lucid's Gravity SUV, Nuro's Level 4 self-driving system, and Uber's rideshare muscle all wrapped into a premium autonomous experience, purpose-built for the Uber app. The rollout kicks off in 2026 with 20,000 Lucid Gravity vehicles planned over six years. Uber is backing the move with a $300 million investment in Lucid and an undisclosed amount in Nuro. The prototype Gravity robotaxi is already up and running at Nuro's Las Vegas proving grounds, operating fully autonomously on a test track. Lucid's interim CEO Marc Winterhoff called the partnership a validation of the company's fully redundant zonal architecture and said the deal puts Lucid at the forefront of a multi-trillion-dollar autonomous mobility market. This is only the beginning, Winterhoff said. The robotaxis will be operated and maintained by Uber and its partners, available exclusively through the Uber app. While the first wave will feature Lucid Gravity SUVs, the companies hinted that Lucid's upcoming midsize EVs may be added later. The announcement comes at a pivotal moment for Lucid. With production finally ramping, record Q2 deliveries, and plans for more affordable EVs, this alliance could cement its place in the next phase of electric mobility with no drivers required. This article first appeared on GuruFocus. 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
Yahoo
a day ago
- Automotive
- Yahoo
Uber to Roll Out 20,000 Lucid Gravity Robotaxis with Nuro Self-Driving Tech
Lucid Group (LCID, Financials) is going driverless and it's doing it in style. The EV maker has inked a game-changing partnership with Uber (UBER, Financials) and autonomous tech firm Nuro to launch a global fleet of robotaxis starting next year. Warning! GuruFocus has detected 4 Warning Signs with LCID. The alliance is a first-of-its-kind mashup: Lucid's Gravity SUV, Nuro's Level 4 self-driving system, and Uber's rideshare muscle all wrapped into a premium autonomous experience, purpose-built for the Uber app. The rollout kicks off in 2026 with 20,000 Lucid Gravity vehicles planned over six years. Uber is backing the move with a $300 million investment in Lucid and an undisclosed amount in Nuro. The prototype Gravity robotaxi is already up and running at Nuro's Las Vegas proving grounds, operating fully autonomously on a test track. Lucid's interim CEO Marc Winterhoff called the partnership a validation of the company's fully redundant zonal architecture and said the deal puts Lucid at the forefront of a multi-trillion-dollar autonomous mobility market. This is only the beginning, Winterhoff said. The robotaxis will be operated and maintained by Uber and its partners, available exclusively through the Uber app. While the first wave will feature Lucid Gravity SUVs, the companies hinted that Lucid's upcoming midsize EVs may be added later. The announcement comes at a pivotal moment for Lucid. With production finally ramping, record Q2 deliveries, and plans for more affordable EVs, this alliance could cement its place in the next phase of electric mobility with no drivers required. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
a day ago
- Automotive
- Yahoo
Why Lucid Group Stock Dropped Today
Key Points Uber will bring Lucid's Gravity SUVs to a major U.S. city for a robotaxi rollout by next year. While the deal is encouraging, the 20,000 Gravity SUVs included in the deal don't radically change Lucid's sales. 10 stocks we like better than Lucid Group › Shares of Lucid Group (NASDAQ: LCID) fell on Monday. The luxury electric vehicle (EV) maker's stock had dropped 7.9% as of 3:10 p.m. ET. The drop came as the S&P 500 and Nasdaq Composite were up by 0.4% and 0.5%, respectively. The stock is seeing a retreat after a major jump following last week's announcement that it has inked an important deal with Uber Technologies. Lucid nets a win On Thursday, the company announced that it is partnering with Uber and the autonomous driving company Nuro to bring robotaxis to a "major U.S. city" by next year. Nuro's technology will be integrated into Lucid's Gravity SUVs, helping boost sales of the company's new vehicle. News of the partnership sent Lucid stock flying; however, it seems to be retreating somewhat as investors digest details of the partnership. Although the 20,000 SUVs Uber intends to purchase are a boon for Lucid, the deal is spread out over six years, meaning the 3,000 to 4,000 vehicles Lucid would deliver per year would not transform its delivery numbers. Furthermore, the "multi-hundred-million-dollar" investment Uber intends to make in Lucid could lead to stock dilution. Challenges remain Lucid continues to struggle to turn a profit, and its sales volume is much lower than it needs to be. While the company's Gravity sales have been encouraging, they are still lagging behind targets set by the company itself. I have serious doubts Lucid can execute a turnaround, especially given the relative softness of the broader EV market. 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 $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 21, 2025 Johnny Rice 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. Why Lucid Group Stock Dropped 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
Globe and Mail
a day ago
- Automotive
- Globe and Mail
Why Lucid Stock Is Sinking Today
Key Points Lucid stock posted big gains last week after the announcement of a robotaxi partnership with Uber, but it's pulling back today. Comments from "Mad Money" host Jim Cramer could also be adding to bearish pressures today. Lucid stock is still a speculative play, but the Uber partnership has the potential to be a major performance catalyst for the company. 10 stocks we like better than Lucid Group › Lucid Group (NASDAQ: LCID) stock is losing ground in Monday's trading. The electric vehicle (EV) specialist's share price was down 7.2% as of 2:45 p.m. ET amid the backdrop of a 0.5% gain for the S&P 500 index and a 0.7% gain for the Nasdaq Composite index. The broader market is rallying again today, but the bullish momentum hasn't been enough to prevent sell-offs for Lucid stock. The company saw explosive valuation gains last week after it announced a partnership with Uber Technologies, but its stock is seeing a pullback as investors reassess the significance of the deal. Lucid stock pulls back following big Uber deal pop Last Thursday, Lucid and Uber announced a significant new robotaxi partnership. Uber will be purchasing 20,000 or more Lucid vehicles over the next six years and outfitting them with self-driving software from Nuro. Uber has also invested $300 million into Lucid. The news prompted a huge rally for Lucid stock, but the rally is losing steam today. In addition to general profit taking on the stock, the extent of today's sell-off may also have roots in recent comments made by Mad Money host Jim Cramer. Speaking on his CNBC show, Cramer downplayed the significance of the deal and indicated that he didn't think that Lucid was a worthwhile investment. What's next for Lucid? As a speculative play in the EV market, Lucid stock will likely continue to see high levels of volatility. On the other hand, the company's partnership with Uber could wind up being a much bigger deal than Cramer is suggesting. For reference, the company delivered a total of 10,241 vehicles last year. While the Uber deal for 20,000 vehicle deliveries is spread out over six years, the figure is roughly double last year's sales total. Having its vehicles as a key part of Uber's robotaxi fleet also has the potential to create beneficial marketing impacts for Lucid. 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 10 best stocks 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 21, 2025
