Is Lucid's $300 Million Deal With Uber a Buying Opportunity for Investors?

On July 18, electric vehicle maker Lucid Motors (NASDAQ: LCID) announced that it had signed a deal with Uber Technologies (NYSE: UBER) and self-driving developer Nuro. Lucid will supply no fewer than 20,000 Gravity SUVs equipped with Nuro's Level 4 self-driving systems to Uber for use in a new upscale robotaxi service.Production of the self-driving Gravity is expected to start by the end of 2026, Lucid said. Those 20,000 vehicles (or more) are to be delivered over the following six years.As part of the deal, Uber agreed to invest $300 million in Lucid. (Uber is also making a significant investment in Nuro, though the specifics haven't been released.)Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool