Uber Boosts Lucid Investment to $500M, Orders 35,000 EVs for AV Launch
Uber has injected an additional $200 million into Lucid Group, raising its total investment to $500 million and upping its commitment to purchase more than 35,000 electric vehicles. The deal positions Uber for autonomous vehicle services launching in Bay Area in 2H’26, boosting visibility on Level 4 deployment timelines.
1. Expanded Lucid Investment
Uber has increased its stake in Lucid Group by $200 million, bringing total committed capital to $500 million. In conjunction with this funding boost, the company has agreed to buy over 35,000 electric vehicles from Lucid to support its future ride-hailing network.
2. Autonomous Service Timeline
This expanded partnership builds on a July 2025 agreement that also included autonomous technology firm Nuro. Test vehicles have already been delivered, and Uber plans to launch fully autonomous ride-hailing services in the Bay Area in the second half of 2026.
3. Strategic Impact and Market Response
Industry analysts view the investment as a sign of confidence in Lucid’s Level 4 technology and expect it to spur other OEMs to accelerate AV development. Uber’s shares jumped 6.6% on the news, with further catalysts expected from upcoming autonomous service rollouts in Las Vegas and Los Angeles.