robotics / news / / Finbold
Saudi-backed Lucid Group (NASDAQ: LCID) has been working to significantly improve its position within the self-driving cab space via a recent partnership with Uber.
Uber has committed to purchasing at least 35,000 Lucid vehicles for its Robotaxi program.
KEY POINTS
- Lucid raised $750 million in mid-April alongside expanding its partnership with Uber.
- The Uber Robotaxi deal is multi-year, milestone-dependent, and not an immediate revenue source for Lucid.
- ChatGPT forecasts Lucid shares may decline 47.80% from $7.28 to $3.80 despite the Uber deal.
- The agreement strengthens Lucid’s long-term prospects but does not resolve its profitability issues.
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