Lucid (LCID) stock jumped on Wednesday after the electric-vehicle maker signed a major partnership with European ride-hailing platform Bolt to deploy at least 25,000 autonomous vehicles across major European cities, extending Lucid's robotaxi push beyond the US for the first time. Under the deal, Bolt will create a robotaxi network using Lucid's upcoming midsize platform, with the vehicles powered by Nvidia's Hyperion autonomous-vehicle architecture and engineered for SAE Level 4 driving, the industry standard for cars that can operate without a human behind the wheel in defined conditions, similar to Alphabet's (GOOGL) Waymo vehicles. Lucid shares rose 4% in early trading, though the stock is down over 60% year to date.
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