Uber Technologies Inc. is teaming up with electric vehicle maker Lucid Group Inc. and self-driving tech startup Nuro to launch a robotaxi fleet.

Lucid's share price is on the move. Here's what its partnership with Uber and Nuro means for the future of transportation.

“Autonomous vehicles have enormous potential to transform our cities for the better,” says Dara Khosrowshahi, CEO of Uber. “We’re thrilled to partner with Nuro and Lucid on this new robotaxi program, purpose-built just for the Uber platform, to safely bring the magic of autonomous driving to more people across the world.”