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.

Uber has announced plans to deploy 20,000 robotaxis over the next six years, an ambitious move that positions Uber to compete with market leader Waymo, which currently operates 1,500 robotaxis.

Ride-hailing giant Uber announced Thursday it will acquire $300 million worth of shares in US electric vehicle maker Lucid Motors. This is part of an ambitious plan to build its own fleet of robotaxis ...