Uber will invest $300 million in Lucid Motors to launch a fleet of robotaxis by 2026, marking its return to autonomous vehicles.

Uber has announced a $300 million investment in Lucid Motors, aiming to launch a fleet of robotaxis starting in 2026. The project will debut in a major US city and will involve the purchase of more than 20,000 Lucid Gravity SUVs equipped with autonomous driving technology from Nuro. The initiative marks Uber's return to the robotaxi business, after it spun off its autonomous vehicle division in 2020. The investment has led to a significant rise in Lucid shares, despite their decline since the start of the year.