Latest news with #NuroDriver
Los Angeles Times
a day 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
2 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
Yahoo
2 days ago
- Automotive
- Yahoo
Lucid Group (LCID) Skyrockets 36% on Uber Investment, Partnership
We recently published . Lucid Group, Inc. (NASDAQ:LCID) is one of the top-performing companies on Thursday. Lucid Group surged by 36.24 percent on Thursday to end at $3.12 apiece as investors took heart from a multi-million-dollar investment and partnership with Uber Technologies Inc. (NYSE:UBER). In a statement on Thursday, Lucid Group, Inc. (NASDAQ:LCID) said that it partnered with Uber for the deployment of more than 20,000 Lucid vehicles equipped with Nuro Inc.'s 'Nuro Driver' over the next six years. The vehicles will be launched in a major city in the US next year and operated by Uber or its third-party fleet partners. Additionally, Uber is set to shell out multi-million-dollar investments in both Lucid Group, Inc. (NASDAQ:LCID) and Nuro Inc. An engineer examining an electric vehicle design in a lab, showing the company's innovative battery systems. Lucid Group, Inc. (NASDAQ:LCID) said the partnership combines the industry-leading software-defined vehicle architecture of the Lucid Gravity, the scalability and proven capability of the Nuro Driver Level 4 autonomy system, and Uber's vast global network and dynamic fleet management, delivering a fully integrated robotaxi experience developed for comfort, safety, and scale. While we acknowledge the potential of LCID as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. 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
Mint
3 days ago
- Automotive
- Mint
Uber puts robotaxi plan in top gear, joins hands with Lucid and Nuro; first vehicle to hit road in 2026. Details here
Uber Technologies on Thursday announced that it has tied up with electric vehicle maker Lucid Group and self-driving tech startup Nuro to launch robotaxis in 2026. The ride-sharing company or its third-party partners will buy and operate Lucid Gravity SUVs outfitted with Nuro Driver technology on its network. It aims to launch its first robotaxi in 2026 and plans to deploy at least 20,000 of the vehicles over the next six years. Uber also announced that it is making separate multi-hundred-million-dollar investments in both Lucid and Nuro. The funding will include $300 million for Lucid that will be used in part to upgrade its assembly line to integrate Nuro hardware into the Gravity vehicles. After the announcement, Lucid shares rallied 34 per cent, while Uber stock was little changed. Earlier this week, Uber had announced a tie-up 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. Prototype robotaxis developed by Lucid and Nuro are already in operation on Nuro's Las Vegas closed-circuit testing grounds, reported Bloomberg. Marc Winterhoff, Lucid's interim CEO, 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. '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,' he added. Separately, Lucid said it is planning a 1-for-10 reverse stock split, subject to shareholder approval. The emerging autonomous taxi market is gaining momentum, with Google subsidiary Waymo currently holding the strongest position in the United States. Electric vehicle maker Tesla unveiled its first robotaxi service in Austin, Texas, in late June, though with limited scope and a very small fleet.
CNBC
3 days ago
- Business
- CNBC
Stocks making the biggest moves midday: Lucid Group, Elevance Health, Albemarle, PepsiCo & more
Check out the companies making the biggest moves midday: Steven Madden — The fashion footwear company jumped more than 5% after Citi upgraded the stock to buy from neutral. The Wall Street firm said the market is underappreciating the acquisition of UK-based Kurt Geiger, while a favorable shift towards dress shoes and away from sneakers should benefit its core business. Lucid Group — Shares of the electric vehicle maker surged 31%. That rally came after a press release Thursday morning showed at least 20,000 Lucid vehicles will be deployed over the next six years using Nuro Driver technology through Uber's ride-sharing platform. Elevance Health — Shares stumbled 16% after the health insurance provider posted second-quarter earnings of $8.84 per share, while analysts polled by LSEG had expected $8.95 per share. However, the company's $49.42 billion revenue exceeded expectations of $48.23 billion. Monarch Casino & Resort — The gaming stock surged 19% after Monarch reported that its net income jumped 19% year over year in the second quarter. Earnings per share of $1.44 came in above the FactSet consensus of $1.20 expected by analysts. Casino revenue was also up 12.1% year over year. Sonic Automotive , Group 1 Automotive — The auto retailers fell 9% and 7.5%, respectively, after being downgraded by JPMorgan. The bank lowered its rating on Sonic to underweight from overweight and moved Group 1 to neutral, noting there's "little fundamental support for franchise dealers near-term with valuation above LT averages." Albemarle — The stock popped 6% after the Chinese government ordered Zangge Mining to halt operations in the Qinghai region of the country, sending lithium prices higher. PepsiCo — The snack and beverage company rose 7% following its second-quarter beat on both the top and bottom lines. Adjusted earnings came in at $2.12 per share on revenue of $22.73 billion. Analysts polled by LSEG expected a profit of $2.30 per share on revenue of $22.28 billion. Taiwan Semiconductor Manufacturing — Shares of the chip manufacturer added 4% after the company's second-quarter profit rose 61% from the year prior, hitting a record high and beating estimates. GE Aerospace — Shares of the jet engine maker ticked up about 2% after second-quarter results beat expectations. GE Aerospace reported $1.66 in adjusted earnings per share on $10.15 billion of adjusted revenue. Analysts were expecting $1.43 per share and $9.59 billion, according to FactSet. GE Aerospace also raised full-year guidance on several metrics. U.S. Bancorp — The stock slipped 1% after the bank's second-quarter total net revenue came in at $7 billion, short of the $7.05 billion expected from analysts polled by LSEG. Net interest margins also missed expectations. — Shares of the online car marketplace gained 4% following an upgrade at JPMorgan to overweight from neutral. The bank cited growth of new vehicle inventory and potentially overstated tariff fears for the call. Toast — The payment tech company advanced 2% after Deutsche Bank resumed coverage of the stock with a buy rating. The bank said Toast has strong value propositions that will result in market share gains and long-term success. United Airlines — Shares gained 2% on better-than-expected earnings . The company earned an adjusted $3.87 per share, beating an LSEG estimate of $3.81 per share. However, the airline issued disappointing earnings guidance for the full year. Archer-Daniels-Midland — Shares of the food processing company, which supplies high-fructose corn syrup, sank 3% after President Donald Trump said Coca-Cola will start to be made with cane sugar. Coca-Cola didn't commit to the change when asked by NBC News . Sarepta Therapeutics — The biotech stock surged 19% after the medical research and drug development company laid off roughly 500 workers, or 36% of its workforce, as part of its strategic restructuring plan . Sarepta said the move would save the company about $120 million in annual cash cost savings in 2026. Abbott Laboratories — Shares slid 8% after the health care company's third-quarter guidance fell short of Wall Street's expectations. Abbott anticipates earnings between $1.28 to $1.32 per share, versus the $1.34 per share expected from analysts polled by FactSet. However, second-quarter adjusted earnings and revenue both topped expectations. Shake Shack — The stock slipped 1% following a downgrade at Jefferies to underperform from hold. The firm believes shares are baking in too much optimism around near-term same-store-sales trends.
