Saudi PIF Reaffirms Backing in Lucid with $9B Stake, Shares Jump 22%
Saudi Public Investment Fund, which holds a 50%+ stake and has invested $9 billion in Lucid, reaffirmed its long-term backing, driving shares up 22% over two days. Lucid plans to deploy over 20,000 Gravity SUVs as robotaxis starting Q4 2026/Q1 2027, with additional autonomy partnerships expected in 2026.
1. Saudi PIF Reaffirms Support Driving Investor Confidence
Cantor Fitzgerald analysts met with representatives of the Saudi Public Investment Fund (PIF) and confirmed the sovereign wealth fund’s unwavering commitment to Lucid Group. The PIF holds over 50% of Lucid’s outstanding shares and has invested more than $9 billion in the electric-vehicle maker since 2018. Following this confirmation, Lucid’s share volume nearly doubled over two trading days, and the stock climbed by 22%, reflecting renewed investor conviction in Lucid’s capital stability and strategic backing.
2. Autonomous Vehicle Deployment Targets Strengthen Growth Outlook
Lucid plans to convert more than 20,000 Gravity electric SUVs into robotaxis between the fourth quarter of 2026 and the first quarter of 2027, aiming to establish a commercial fleet that can generate recurring revenue streams. Cantor Fitzgerald analyst Andres Sheppard highlighted that these targets, coupled with expected autonomy partnerships to be announced throughout 2026, position Lucid as one of the few EV startups with a clearly defined route to profitability. Lucid’s interim CEO has confirmed that further robotaxi collaborations may be unveiled at the company’s Investor Day scheduled for March 12, 2026.