Latest news with #maker
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.
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
6 days ago
- Automotive
- Yahoo
Lucid (LCID) Stock Trades Up, Here Is Why
Shares of luxury electric car manufacturer Lucid (NASDAQ:LCID) jumped 3.3% in the afternoon session after the company announced a major update to its DreamDrive Pro suite of Advanced Driver Assistance Systems (ADAS). The electric vehicle maker is introducing "Hands-Free Drive Assist" and "Hands-Free Lane Change Assist" to its lineup. These new features will be rolled out via an over-the-air (OTA) software update, scheduled for July 30 for Lucid Air owners and later this year for the new Gravity SUV. The update is a significant step in the company's technology roadmap, as Lucid continues to invest heavily in its in-house software and ADAS capabilities to compete in the crowded EV market. The DreamDrive Pro system utilizes a comprehensive suite of 32 sensors, including LiDAR, radar, and cameras, to enable these new hands-free functions on compatible highways. After the initial pop the shares cooled down to $2.33, up 2.7% from previous close. Is now the time to buy Lucid? Access our full analysis report here, it's free. Lucid's shares are extremely volatile and have had 56 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 8 days ago when the stock dropped 3.2% on the news that the major indices pulled back (Nasdaq -0.8%, S&P 500 -0.77%), largely due to escalating concerns surrounding the July 9th deadline for new US tariffs, now amplified by specific announcements. Earlier in the day, President Trump confirmed that Japan and South Korea would face new 25% tariffs on their imports to the US, effective August 1st. These announcements came ahead of the broader July 9th expiration of a 90-day pause on reciprocal tariffs, which failed to produce comprehensive trade deals with most nations. This action against two major trading partners, coupled with the ongoing threat of further tariffs on countries associated with the BRICS bloc, injected significant uncertainty and apprehension into global markets. Investors were likely reacting to the increased costs for businesses, potential disruptions to global supply chains, and the broader implications for international trade relations. Lucid is down 23.3% since the beginning of the year, and at $2.33 per share, it is trading 45.4% below its 52-week high of $4.26 from August 2024. Investors who bought $1,000 worth of Lucid's shares at the IPO in September 2020 would now be looking at an investment worth $235.10. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. 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
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Business Standard
14-07-2025
- Automotive
- Business Standard
Vietnam to ban fossil-fuel motorcycles in central Hanoi from July 2026
The directive issued by Vietnamese Prime Minister Pham Minh Chinh applies to the area inside and along the main ring road that encircles the centre of Hanoi AP Hanoi Vietnam will ban fossil-fuel motorcycles and mopeds in the heart of the capital, Hanoi, starting July 2026, as part of a nationwide effort to curb air pollution, state media reported. The directive issued by Vietnamese Prime Minister Pham Minh Chinh applies to the area inside and along the main ring road that encircles the centre of Hanoi. The local government has been tasked with phasing out the two-wheelers by the deadline. Like the rest of Vietnam, motorcycles are the main mode of transport for most of Hanoi's 8 million residents. The city has nearly 7 million motorcycles and just over a million cars. But as incomes rise and more people switch to private vehicles, air pollution from traffic has become a growing concern. Hanoi is often enveloped in thick smog, ranking among the most polluted cities worldwide. Vietnam also wants to switch from fossil-fuel to electric vehicles to cut pollution and tackle climate change. Local EV maker VinFast is leading the shift by holding nearly a fifth of the market share, according to the European Chamber of Commerce. But it still has only a small share of the two-wheeler market. But many are concerned about the unclear plan for phasing out the vehicles. Nguyen Van Hung, 62, has spent three decades driving a motorcycle taxi in Hanoi, now working with Grab, a ride-hailing app widely used across Southeast Asia. He worries the ban will hit the working class hardest. It will affect people who rely on motorbikes to earn a living, he said, pointing to delivery drivers, commuters and ride-hailing services. How can people just discard their vehicles? Others said that the timeline was unrealistic. Hoang Duy Dung, 32, an office clerk who works in the city centre, said he supports cleaner air but believes it is too soon. We need better public transport and more support before such a big change. Central Hanoi is home to much of the city's business activity, including offices, government buildings and commercial hubs. A second phase, set to begin in January 2028, will expand the ban to a wider area and include all fossil-fuel two-wheelers, while also restricting some gasoline-powered cars. Other measures include upgrading waste-treatment plants, using digital tools to monitor pollution and introducing stricter penalties for violators. Whistleblowers could be rewarded for reporting environmental breaches. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Daily Maverick
11-07-2025
- Entertainment
- Daily Maverick
Daytime dining meets Dusk delicacies in central Stellenbosch
Typically, your first day on the job includes a tour of the workplace, a pen, an introduction to your coworkers and, if time permits, someone will show you where the coffee maker is. But not when your mentor is a food editor. The country that loves to braai is eager to show you its culture, so your introduction to a new environment has to be intriguing. It might include coffee and some other treats along the way – perhaps a meal and shopping with your editor? I mean, who gets to say that they were able to accompany Tony Jackman on not just a walking food tour, but a stroll through Stellenbosch looking for a hat on a sunny day? Your first day as an intern can't get any better than that. My first meeting with Tony was at the CoCreate Hub, operated by Ranyaka Community Transformation, just outside Stellenbosch University. Visitors typically go to the nonprofit space to meet friends, dine, read or even get a haircut. Tony ordered a breakfast sandwich of some sort from LUX Caterers at the hub and I had egg and cheese on toast. He looked impressed and I really wanted him to try the fries on Leroy's menu. Tony politely took a fry and allowed me to enjoy the rest. Shortly after, Dee Moskoff, my internship supervisor, met us at the hub and as a true adventure woman, took us around Stellenbosch, suggesting stores along the way after Tony mentioned he wanted to buy a hat because he'd left his behind at home before driving across the country to meet me. It was a sunny day and he wasn't the only one in search of shopping items. I was warned we would be doing a walking food tour, and in my naivety I thought I could manage my three-inch heels through Stellenbosch. So while Tony sported his hat, I struggled behind. After our shopping excursion, Dee took us to Schoon, a cafe, since another spot was closed. Whether it's nostalgia, the kind staff or the smoked salmon I keep thinking about in the middle of the night, I have shamelessly been back to the shop since that first day in June. I have to order the pasteis de nata every visit. The Portuguese custard with sprinkled cinnamon is such a treat on a rainy day in the Cape. As the last crumb was cleaned off our plates, Dee left Tony and I to begin our walking food tour. Our starting grounds were at the Visit Stellenbosch headquarters on Church Street. I spotted the logo from a distance and was relieved to stand in place to listen to our guide, Louise Smith, as my feet rested. The ginger-haired woman with red lipstick explained that the Bites and Sites Tour gives explorers like Tony and I a chance to try locally inspired dishes with a Stellenbosch twist. So not only would I be dining and learning, but exercising? A three-in-one special. The first restaurant was at the Coopmanhuijs hotel – Helena's Restaurant. A chequered tablecloth and wine glasses were waiting for us. When we took a seat, our waitress appeared with two bottles, the Tokara Sauvignon Blanc and the Kleine Zalze Merlot 2023. You'll learn that I'm on a mission to find the best red wine during my experience in the wine-loving country, so I chose the Merlot and Tony the Sauvignon Blanc. Shortly after an assortment of goods was brought out – gypsy ham, a cheese selection, vegetarian spring rolls, deep-fried aubergines, pickled mushrooms, preserved kumquat, smoked salmon, goat's cheese croquette and rich red peppers. I was in pescatarian and vegetarian heaven. Pass the goat's cheese croquette, please. After I devoured all of the croquettes we resumed the tour. Walk, fact and sit. Fact, eat and sip. We then walked over to a coffee shop called Republique Café. In the blue-themed shop, coffee beans from Kenya, Rwanda, Brazil and Columbia are stacked on one side of the shelf. Louisa shared that coffee isn't really grown in South Africa. Between the wine and great fish, you can't have it all. Tony and I tried one of the espresso options which had the flavour of chocolate syrup and condensed milk with a traditional dash of cinnamon. On the side was a lemon madeleine with fragrant lavender, which was the perfect pairing for the hot beverage. Louisa is quite the historian and psychic. We walked past a pair of Nelson Mandela Long Walk to Freedom shoes on display at a shop. I would later learn that Robben Island would be closed until September for maintenance. Thank you, Louisa, for my glimpse of history. Next was De Warenmarkt Kos & Wyn. The fried golden goat's cheese with three beer options was quite the experience for a non-beer lover. I vaguely remember Louisa saying one of the glasses was typically enjoyed by women, but I couldn't tell you which one it was. A few kilometres later, we arrived at Wijnhuis. The greenery made the outdoor dining more enjoyable. On my plate I had a vegetarian dish with nuts, mushroom and raisin over thinly sliced cucumber. After moving the bottle of Cape Saint Blaize oceanic gin from in front of me to pour, I got a peak at the thinly sliced carpaccio on Tony's plate. Tony, Louisa and I then left the freshly opened gin and several orange peels on the table before heading to the museum, our final stop, for a tour of a colonial home, Schreuderhuis, built in 1709 – the oldest house in the country, Louise told us – where we found more lavender and a taxidermy cat. The Bites and Sites Tour is for the foodie, history enthusiast and those with sore feet! Two days later, Tony and I met at Dusk restaurant for an evening meal. After a long day of dining and sipping, we arrived at the dimly lit restaurant with a crescent logo at the entrance. The upscale restaurant made me wish I had bought the flamingo-like sweater I had tried on earlier. As I opened the delicate envelope of the mystery card, the writing revealed our dinner menu. Not just one course, or even three, but seven. Tony had warned me about this kind of Cape menu. Our first taste wasn't just to try, but an introductory game of Clue which foreshadowed my dimly lit dinner of guess the game, and by game I mean meat. What was that red meat on Tony's plate that I'd later see? And wait, did I just eat duck liver? But before that, if you have read Tony's story, you will remember that I told him to enjoy the red circular substance — he couldn't possibly devour something unfamiliar, and worse, it was his least-favourite colour, orange. From his story I learnt that a wall in his house is orange and he actually likes the colour. Was the dimly lit restaurant also affecting my memory? I am always impressed with Tony's ability to pick up on flavours and his eye for photographing his meals. He got the flavour right instantly (strawberry), while I struggled between my two hints: apricot or peach. Could the two really be that different? Peach, I whispered quietly. It was apricot. I love bread, so when the round dough topped with crystallised salt and flower-shaped butter appeared I was thrilled. The butter melted effortlessly on the bread. Next, we were served a dish called 'Snack Service'. I blame my duck liver mishap on the beautiful flower-shaped presentation. My mind quickly forgot about the duck I almost finished when the salmon gravlax landed in front of me. The herbs, carrot goodness and trout created a carrot craving my taste buds are eager to explore again. De Wetshof Lilya rosé 2024, DeMorgenzon Maestro 2021 – I listened to the sommelier, George Young, and his team pronounce wines I have never heard of or tasted, yet the often dry wines complemented the rich dishes at Dusk. The next course was called Modesty. Is that why there was a brown, crispy garnish covering the creamy content? For the wine, a Cabernet Franc 2021 is poured before us and the smoked cream lingers until the next meal. The next dish was the four Cs: cashew, coconut, and curry-covered, coal-fired sea bass. What a mouthful and I was indeed full after that. Visiting Bo-Kaap is on my to-do list and if this is a glimpse, I don't want to miss it. While Tony and I prepared for the next course, a sudsy sweetener was promised, or a rather rude sweetener, as Tony wrote. I do not exaggerate when I say I gasped as the waiter pulled off the lid to reveal the message. Tony and I headed to the kitchen end of the restaurant to watch the chefs in action, to give our digestive systems a rest. We were even able to get a tour of the wine cellar. I know the sorority and fraternity members at my school back in the US would have been jealous just staring at it. Next, a cauliflower steak, cream cheese, a pink-covered, meat-like ball and a toasted bread with garnish galore were on my plate. Tony's included venison loin. Next was dessert. After our long day of dining, I was excited for something 'light' that I could finish after my wine defeat. I gave up sipping after both I and the sommeliers lost track of which glass I had last sipped from. The yoghurt granola fixer with almond financier was paired with Graham Beck Bliss Nectar. After I cleaned my plate, I sighed in relief, but wait, there's more? Before us now was 'Nostalgia'. The strong flavour of peanut butter complemented the raisin flavour and even hints of banana. The sweetness of the Donkiesbaai Hooiwijn enhanced the flavours of the cardamom cake. By far my favourite wine and pairing for the evening. We then had two smaller treats – a miniature fried dough in orange powder with an even smaller topping that resembled an ice cream sandwich, before we were given a pink and blue rhombus candy. Finally, we were finished eating and I was quite stuffed. I almost wanted to book another Bites and Sites Tour for us to walk off our meals. Usually Tony and I sit and chat after dining, but it was getting late and I was secretly scared another delicious dessert would be placed in front of me. The two of us left the dim Dusk to enter the dark streets of Stellenbosch to rest at our respective temporary Stellenbosch homes before meeting again for another morning of dining. DM
