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.

Uber will invest $300 million in electric vehicle maker Lucid in a robotaxi deal that aims to start with one major U.S. city late next year, the companies said on Thursday.

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