Uber Adds $200M to Lucid, Raises Robotaxi Order Obligation to 35,000
Uber is adding $200 million to Lucid’s funding round, raising its total stake to $500 million while Saudi PIF contributes $550 million via convertible preferred stock. Under the revised agreement Uber’s robotaxi purchase obligation increases from 20,000 to at least 35,000 vehicles.
1. Investment Breakdown
Uber is investing $200 million in Lucid, bringing its total commitment to $500 million in the electric automaker, while Saudi PIF’s affiliate contributes $550 million through convertible preferred stock. This joint funding underscores deepening support from both strategic backers.
2. Expanded Purchase Obligation
The commercial agreement now mandates Uber purchase a minimum of 35,000 autonomous-capable vehicles from Lucid, up from the original 20,000-unit floor. The expanded order will include both the Gravity SUV and Lucid’s upcoming midsize platform.
3. Strategic Implications
The larger fleet commitment bolsters Uber’s robotaxi ambitions, with early autonomous pilots already operating in the San Francisco Bay Area and a full rollout planned later this year. The increased unit target will heighten production demands on Lucid and elevate Uber’s future capital requirements.