Lucid Secures $550M PIF and $200M Uber Investments, Expands Robotaxi Orders to 35,000 Vehicles
Lucid secured $550 million in convertible preferred stock financing from a Public Investment Fund affiliate and an additional $200 million from Uber, raising Uber’s total stake to $500 million. Uber also committed at least 35,000 Lucid vehicles for its global robotaxi service, covering both Lucid Gravity and upcoming Midsize models.
1. Investment Details
Ayar Third Investment Company, an affiliate of the Public Investment Fund, agreed to purchase $550 million of Lucid’s convertible preferred stock, while Uber committed an additional $200 million, bringing its total investment in Lucid to $500 million.
2. Robotaxi Partnership Expansion
Uber and Lucid expanded their commitment to supply at least 35,000 vehicles—including Lucid Gravity and upcoming Midsize models—to Uber’s global robotaxi service, following autonomous on-road testing in the San Francisco Bay Area that began in December 2025.
3. Lucid Midsize Platform Features
The Midsize vehicle platform is designed for fleet efficiency with a starting price under $50,000, smaller battery packs delivering competitive range, best-in-class interior space, superior charging speed and simplified manufacturing for cost-effective scalability.
4. Capital and Production Impact
The combined $1.05 billion infusion strengthens Lucid’s balance sheet, supports ongoing production ramp at its Arizona and Saudi Arabia facilities, and accelerates deployment of its software-defined vehicle architectures in enterprise mobility networks.