Uber is investing hundreds of millions of dollars into EV maker Lucid and autonomous vehicle technology startup Nuro in a bid to launch its own premium robotaxi service.
Under the deal announced Thursday, Uber will invest $300 million into Lucid and separately buy “at least” 20,000 of the EV maker’s new Gravity SUV over the next six years. Those EVs will be equipped with Nuro’s autonomous vehicle system with plans to launch a robotaxi service in a major U.S. city next year. Those vehicles will be owned and operated by Uber or its third-party fleet partners.
Uber is also investing an undisclosed “multi-hundred-million dollar” amount into Nuro. One source familiar with the agreement said the figure is more than Uber’s investment in Lucid.
The agreement between the three companies was a year in the making, Nuro co-founder and president Dave Ferguson told TechCrunch.
” I think that’s probably a reflection of how how meaty it is,” he said, adding that Uber was looking to make a very large commitment to a robotaxi program and spent time with almost every AV company to find the most suitable partner. “We were thrilled that, at the end of all that we were the partner that was chosen.”
Ferguson said engineers at Lucid and Nuro have already made progress on the project. The companies have been testing a prototype driverless vehicle on a closed track at Nuro’s proving grounds in Las Vegas.
Uber has spent the past two years locking in partnerships with autonomous vehicle technology companies that covers the spectrum of how self-driving systems can be applied to the physical world. Uber has partnered with more than 18 companies globally, across ride-hailing, delivery, and trucking. Just this year alone, Uber has announced deals with Ann Arbor, Michigan-based May Mobility Volkswagen, and Chinese self-driving firms Momenta, WeRide, and Baidu.
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It’s most high-profile partnership in the U.S. — and one that is commercially operating today — is with Waymo. The companies offer a Waymo on Uber service in Austin and Atlanta.
This deal illustrates just how much money Uber is willing to invest in hopes of tapping into, and even dominating, the burgeoning autonomous vehicle market.
