Lucid is partnering with ride-hailing platform Bolt to launch a fleet of at least 25,000 robotaxis in Europe, a deal the struggling electric-car maker called an important step towards stabilising its finances. The plan is the most ambitious yet to launch autonomous taxis at scale in Europe, where deployment lags the US and China. The deal comes after Uber agreed to buy at least 35,000 of Lucid’s cars for its robotaxi network, likely costing it at least $2bn. Uber agreed to take a $300mn stake in the Saudi-owned car group in July last year before expanding the deal in April.

Robotaxis have become a key element of Lucid’s efforts to hunt out new revenue sources and return to profitability, as it loses hundreds of thousands of dollars per car sold to consumers. Bolt and Lucid declined to provide financial terms of the transaction — which is currently only a memorandum of understanding — or when Bolt would start ordering Lucid’s vehicles. But new chief executive Silvio Napoli said Lucid would aim to roll out the first batch of the autonomous cars, which will be built on its EV platform for affordable models, as early as 2028.

Unlike Uber, Bolt will not take a stake in Lucid as part of the deal. Lucid’s shares plummeted in mid-July following a report that Alix Partners was advising the company on whether it should file for bankruptcy or be taken private. Lucid denied the report, but Napoli later said he had hired the consultancy to help with his turnaround plan after he took over as CEO in June.

The company has since unveiled a $1.4bn cost-cutting programme and delayed the long-awaited launch of its affordable $50,000 model until next year.