Lucid’s stock zooms to best day in months after Uber becomes the EV maker’s latest backer and the companies hatch a plan to launch robotaxis.

Shares of luxury vehicle maker Lucid soared Thursday after the company announced a self-driving partnership with Uber Technologies and Nuro.Lucid shares closed up 36.2% at $3.12, while the S&P 500 and Dow Jones Industrial Average gained 0.

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.

Better Buy: Tesla vs. Lucid Stock March 07, 2023 — 05:21 pm EST Written by Keith Noonan and Parkev Tatevosian for The Motley Fool ->