So, what does this deal say about Uber, Lucid, EVs, and more. Mark Fields, former president and CEO of Ford Motor Company, also CBC contributor, joining us now. Mark, your take on this deal.Well, it's obviously it's a much bigger deal for Lucid than it is for Uber. And and Brian, what you're seeing with Uber is they're spreading their bets, right. They've announced this partnership today where you know Lucid's going to provide the cars, Uber's going to provide the ride hailing network and Neuro the self-dri ...

Core Insights - Uber has announced a global robotaxi program in partnership with Lucid and Nuro, aiming to integrate autonomous driving technology with its ride-sharing platform [1][2] - The initiative will initially launch in a major US city and is expected to expand globally, deploying over 20,000 Lucid vehicles within six years [2] - Uber plans to invest multi-hundred-million dollars into both Lucid and Nuro as part of this collaboration [3] Company Partnerships - The partnership combines Uber's ride-sharing capabilities with Lucid's electric SUV, the Gravity, and Nuro's autonomous driving technology [2] - Uber has existing partnerships with 18 autonomous vehicle companies, including Waymo, Avride, Aurora, and May Mobility, indicating a strong commitment to expanding its autonomous vehicle offerings [3][4] Industry Impact - Uber's CEO highlighted the transformative potential of autonomous vehicles for urban environments, emphasizing the goal of making autonomous driving accessible to a broader audience [4] - The collaboration with established ride-hailing services like Uber is seen as a strategic move to scale robotaxi services and lower entry barriers for consumers [5]

Core Viewpoint - Lucid Group's stock surged by 40.2% following the announcement of a significant partnership with Uber for robotaxi initiatives, indicating strong market interest and potential growth opportunities for the company [1][2]. Group 1: Partnership and Investment - Uber Technologies has chosen Lucid as a primary vehicle provider for its robotaxi program, planning to purchase vehicles from Lucid and utilize autonomous software from Nuro [2]. - As part of the partnership, Uber has invested $300 million in Lucid, enhancing its financial backing and signaling confidence in Lucid's future [2]. Group 2: Production and Market Strategy - Lucid's long-term success is contingent on its ability to scale vehicle production and delivery to achieve economies of scale and positive margins on electric vehicles [4]. - Uber aims to deploy over 20,000 Lucid vehicles equipped with its robotaxi software within the next six years, which could significantly boost demand for Lucid's vehicles [4]. Group 3: Future Developments - The launch of Uber's Lucid robotaxis is scheduled for next year in a major U.S. city, which is expected to act as a strong demand catalyst for Lucid [5]. - Lucid has filed with the SEC to proceed with a 1-for-10 reverse stock split, a move that may impact its stock structure and investor perception [5]. Group 4: Financial Backing and Market Sentiment - The Saudi Arabian Public Investment Fund remains Lucid's largest shareholder, providing essential operating capital as the company navigates significant losses while scaling operations [6]. - The partnership with Uber is viewed as a positive buy signal for Lucid stock, especially for investors considering entering the market [6].

Core Insights - Uber has announced a strategic alliance with Lucid Group and Nuro to develop a high-end robotaxi service, planning to launch it in the second half of 2026 [1][4] - Uber will invest several hundred million dollars in this partnership, including a $300 million investment in Lucid, aimed at integrating Nuro's autonomous driving technology into Lucid's Gravity SUV [1][5] - Following the announcement, Lucid's stock surged, reflecting market optimism about the robotaxi market's potential [2][8] Group 1: Partnership Details - Uber plans to purchase at least 20,000 Lucid Gravity SUVs equipped with Nuro's autonomous driving technology over the next six years [1][5] - The first vehicles are expected to be deployed in an undisclosed major U.S. city in late 2026 [5][6] - Lucid's temporary CEO stated that the choice of Lucid's SUV was due to the ability to integrate necessary hardware directly at the factory [6] Group 2: Strategic Shift - This partnership signifies a shift in Uber's strategy from developing autonomous driving technology in-house to collaborating with specialized companies [4][7] - Uber has established partnerships with over ten autonomous technology developers and automakers, including Waymo and Volkswagen [7] - The current CEO has indicated that Uber is leveraging its investments in companies like Aurora Innovation to fund future autonomous ecosystem investments [7] Group 3: Market Context - The robotaxi market is becoming increasingly competitive, with Tesla and Waymo expanding their services [8] - Lucid aims to increase production and delivery of its vehicles, targeting a production of 20,000 units by 2025, more than double the previous year's output [8] - Lucid's stock has seen a significant decline of 95% since its peak during the pandemic, facing challenges from price wars and weak demand in the electric vehicle sector [8]

Company Performance - GE Aerospace reported better-than-expected second-quarter 2025 results with adjusted revenue of $10.2 billion, a 23% year-over-year increase, and GAAP revenue of $11.02 billion, a 21% increase, surpassing the consensus estimate of $9.57 billion [2] - Adjusted EPS for the quarter was $1.66, reflecting a 38% year-over-year increase, beating the consensus of $1.41 [2] - GE Aerospace now expects 2025 adjusted revenue growth in the mid-teens, up from prior low double digits, and adjusted EPS of $5.60 to $5.80, compared to the previous range of $5.10 to $5.45, against a consensus of $5.57 [3] Market Movements - Volcon, Inc. shares surged 204% to $28.07 after announcing a $500 million private placement aimed at acquiring Bitcoin as its primary treasury reserve asset [8] - Lucid Group, Inc. shares increased by 30% to $2.9850 following the announcement of a global robotaxi program in collaboration with Nuro and Uber [8] - Monarch Casino & Resort, Inc. shares rose 17% to $102.17 after reporting better-than-expected second-quarter financial results [8] - LQR House Inc. shares dropped 42% to $6.22 due to a lawsuit regarding breach of fiduciary duty [8] - GameSquare Holdings, Inc. shares fell 29% to $1.6393 after announcing a $70 million public offering [8]

Core Viewpoint - Lucid Group has announced a partnership with Uber to develop a robotaxi fleet, which has positively impacted its stock price, increasing by 30.1% following the announcement [1][6]. Group 1: Partnership and Fleet Development - Uber plans to develop a fleet of 20,000 or more Lucid vehicles over the next six years to operate as robotaxis, which will be owned and operated by Uber or its third-party partners [3][5]. - The robotaxi fleet will feature Lucid Gravity EVs equipped with autonomous driving software from Nuro, achieving Level 4 autonomy [4]. Group 2: Financial Implications and Market Potential - Uber will make multimillion-dollar investments in both Lucid and Nuro to support the development of the robotaxi fleet, with the service expected to launch in 2026 in a major U.S. city [5]. - Lucid's interim CEO, Marc Winterhoff, expressed optimism about the company's potential in the multitrillion-dollar robotaxi market, indicating a strategic move to extend its innovation and technology leadership [4].

Event Details - Lucid Motors will participate in @theXtakeover event on July 26th in San Mateo, CA [1] - The event will feature test drives of Lucid Gravity & Air vehicles [1] Participants - Lucid team members @CorySteuben, @ntwork, and others will represent the company at the event [1]

Core Viewpoint - Uber is collaborating with Lucid and Nuro to launch a fleet of autonomous taxis, marking a strategic shift from in-house development to ecosystem investment [1][2] Group 1: Uber's Strategic Moves - Uber plans to purchase Lucid Gravity SUVs equipped with Nuro's autonomous driving system, aiming to deploy at least 20,000 autonomous taxis over the next six years, starting in the second half of 2026 in a major U.S. city [1] - The company will invest hundreds of millions of dollars into Lucid and Nuro, with $300 million allocated to support Lucid's production line upgrades [1][2] - This partnership is part of Uber's broader strategy to establish itself as a leading platform for autonomous ride-hailing, having previously collaborated with over ten companies, including Waymo and Volkswagen [1] Group 2: Lucid's Business Development - The order from Uber opens commercial opportunities for Lucid's second mass-production model, the Gravity, with production expected to double to 20,000 units by 2025 [2] - Lucid is currently testing prototypes in Las Vegas and is also advancing its own advanced driver-assistance systems, recently adding hands-free driving and automatic lane change features [2] - The temporary CEO of Lucid emphasized that this partnership represents a significant milestone in expanding from electric vehicle technology licensing to diverse collaborations [2] Group 3: Industry Context - The autonomous vehicle market is experiencing intensified competition, with Tesla recently launching its delayed autonomous taxi service in Austin, promising expansion to more cities [2] - Nuro, which previously partnered with Uber for autonomous delivery, has shifted focus to developing autonomous driving software [2]

Strategic Partnership - Uber enters a six-year partnership to deploy over 20,000 robotaxis, indicating a significant push towards autonomous driving [1] - Uber partners with Lucid and Nuro, investing $300 million in Lucid [2] - Nuro will develop self-driving technology for Lucid to supply robotaxis to Uber, receiving a multi-hundred-million-dollar investment [2] Investment & Financial Commitment - Uber invests $300 million in Lucid, demonstrating financial commitment to the robotaxi program [2] - Nuro receives a multi-hundred-million-dollar investment, highlighting the scale of the autonomous driving initiative [2] Leadership Vision - Uber's CEO expresses excitement about partnering with Nuro and Lucid to bring autonomous driving to more people globally [3]

Core Insights - Proactive provides fast, accessible, and informative business and finance news content to a global investment audience [2] - The company specializes in medium and small-cap markets while also covering blue-chip companies and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]