EV maker Lucid is partnering with Uber and self-driving car startup Nuro to deploy thousands of autonomous robotaxis over the next six years.

Lucid Motors just stunned Wall Street. Lucid Motors just made headlines with a bold new partnership that sent its stock soaring nearly 30% in a single day. The electric vehicle maker teamed up with Uber and Nuro in a surprising deal to deliver 20,

The withdrawal of government support will hurt Lucid's effort to pivot to mass-market SUVs, such as the Lucid Earth, which is expected to start at just $48,000 when it launches in 2027. Furthermore, the loosening of emissions regulations could hurt the market for regulatory credits.

American electric vehicle makers Rivian and Lucid rose as much as 4.6% and 8.8%, respectively, on Thursday.

Lucid Group (LCID) stock has faced headwinds, plunging 24% YTD due to EV market slowdown, rising competition, and other challenges.

Tesla ( TSLA) and its high-profile CEO Elon Musk can be polarizing. However, the automaker has achieved things that seemed impossible. It not only broke into the highly mature auto industry, it also helped to create the electric vehicle (EV) market. Could buying EV upstart Lucid ( LCID) set investors up for a similar success story?