12:19 PM EDT, 07/17/2025 (MT Newswires) -- Uber Technologies ( UBER ) plans to deploy at least 20,000 Lucid (LCID) vehicles that will be equipped with Nuro's autonomous vehicle technology, the companies said Thursday.

The first launch of Lucid's Gravity sports utility vehicle under a robotaxi deal is expected next year "in a major US city," according to the companies. They aim to complete the deployment cycle over a period of six years.

Uber ( UBER ) intends to make "multi-hundred-million dollar investments" in both Nuro and Lucid, according to the joint statement.

"We're thrilled to partner with Nuro and Lucid on this new robotaxi program, purpose-built just for the Uber ( UBER ) platform, to safely bring the magic of autonomous driving to more people across the world," Uber ( UBER ) Chief Executive Dara Khosrowshahi said.

Shares of electric vehicle maker Lucid jumped 42% in Thursday trade, while Uber's ( UBER ) were little changed.

"This investment from Uber ( UBER ) further validates Lucid's fully redundant zonal architecture and highly capable platform as ideal for autonomous vehicles," said Lucid Interim CEO Marc Winterhoff.

The Lucid vehicles will run on Nuro Driver, described as a "level 4 self-driving system."

Wedbush Securities said the deal comes with execution risks. In addition, it puts Waymo's relationship with Uber ( UBER ) at risk as the latest partnership would impact Waymo rides on Uber ( UBER ), Wedbush analysts Scott Devitt and Matthew Weiss wrote in a note. Waymo is Alphabet's (GOOG, GOOGL) driverless taxi unit.

"By combining our self-driving technology with Lucid's advanced vehicle architecture and Uber's ( UBER ) global platform, we're proud to enable a robotaxi service designed to reach millions of people around the world," said Nuro CEO Jiajun Zhu.

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