Uber is investing hundreds of millions of dollars into Lucid and autonomous vehicle technology startup Nuro in a bid to launch its own robotaxi service.

Lucid will equip 20,000 or more Gravity SUVs with autonomous driving hardware and software provided by Nuro to be used as robotaxis by Uber

As of 10 a.m. ET, shares of Lucid are up 30.1%. Over the next six years, Uber plans on developing a fleet of 20,000 (or more) Lucid vehicles that will operate as robotaxis, which Uber will own and operate or its third-party fleet partners. Riders will have exclusive access to the robotaxi service through the Uber platform.