Uber is investing $300 million in Lucid, a spokesperson for the automaker, Nick Twork, confirmed. The investment in Nuro will be “significantly more than that,” Ferguson said, though he declined to share an exact figure. As part of the deal, Uber will take a seat on Nuro’s board of directors.

With the ability to cover up to 450 miles on a single charge, the Gravity SUV is expected to function well as a robotaxi, since it will need less downtime for recharging. This way, vehicles will be available for riders more often. Tesla ’s own Model Y is being used as the brand’s robotaxi, but that has nowhere near the range of the Lucid Gravity.

Lucid Group ( LCID 35.81%) stock is soaring today after the company announced a major new deal in the robotaxi space. The company's share price was up 40.2% as of 1:30 p.m. ET amid the backdrop of a 0.4% gain for the S&P 500 and a 0.7% jump for the Nasdaq Composite.

Uber and Lucid today announced a deal to put 20,000 self-driving Gravity SUVs on the road over the next six years, starting in 2026.

Ross Gerber is pushing back against a partnership between rideshare service Uber Technologies Inc. and automaker Lucid Group Inc.

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Lucid, which has always offered an array of driver-assistance features, is now expanding the suite of driver aids on its models with two new hands-free features. Perhaps it’s surprising that a luxury automaker is offering the tech after mass-market brands like Ford, but better late than never, right?