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

Uber is investing hundreds of millions of dollars into Lucid and autonomous vehicle technology startup Nuro in a bid to launch its own robotaxi service.

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