Lucid Group Inc (LCID) shares surged 5.24% in pre-market trading on Thursday, following the announcement of a groundbreaking partnership with Nuro and Uber for a next-generation autonomous robotaxi program. The collaboration, expected to launch later next year in a major US city, has ignited investor enthusiasm and boosted confidence in Lucid's future prospects in the rapidly evolving electric and autonomous vehicle market.

The partnership's highlight is Uber's commitment to invest $300 million in Lucid Group, demonstrating strong faith in the electric vehicle manufacturer's technology and growth potential. Uber aims to deploy 20,000 or more Lucid vehicles equipped with Nuro's autonomous driving technology over six years across dozens of markets worldwide. This ambitious plan could significantly expand Lucid's market presence and revenue streams.

In addition to the partnership news, Lucid also announced plans for a 1:10 reverse stock split, subject to shareholder approval. While reverse splits can sometimes be viewed negatively, in this case, it appears to be overshadowed by the positive sentiment surrounding the Uber partnership and investment. The first Lucid-Nuro robotaxi prototype is already operating autonomously on a closed circuit at Nuro's Las Vegas Proving Grounds, indicating tangible progress in the collaboration.