Uber is investing $300 million in Lucid, a spokesperson for the automaker, Nick Twork, confirmed. The investment in Nuro will be “significantly more than that,” Ferguson said, though he declined to share an exact figure. As part of the deal, Uber will take a seat on Nuro’s board of directors.

Mark Fields, former Ford CEO, joins 'Power Lunch' to discuss Fields' take on Uber's deal with Lucid, how expensive the Lucid driverless taxis are and much more.

Uber will deploy 20,000 or more Lucid vehicles over the next six years, equipped with Nuro, Inc.’s Level 4 autonomy system, called Nuro Driver.