Lucid Group, Inc. announced a significant expansion of its partnership with Uber, further supported by an additional long-term investment from Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF). As part of the agreement, Uber will increase its purchase commitment to at least 35,000 Lucid vehicles designed exclusively for use as part of Uber's future global robotaxi service. The company has also committed to an additional $200 million investment in Lucid, raising Uber's total investments to $500 million to date.
Ayar Third Investment has also committed a new investment of $550 million, further strengthening the strategic partnership between the PIF and Lucid. Together, these investments enhance Lucid's capital position as the company advances its best-in-class software-defined vehicles and diversified enterprise platform strategy.
Lucid Group, Inc. is a technology company, which designs, engineers, and manufactures electric vehicles (EVs), EV powertrains, and battery systems in-house using its own equipment and factories. It sells vehicles directly to consumers through its retail sales network and through direct online sales. Its vehicles include Lucid Air and Lucid Gravity. Lucid Air is an advanced car, featuring powertrain technology. It offers 420 miles of the United States Environmental Protection Agency (EPA)-estimated range, with an 84-kWh battery pack. The Lucid Air Sapphire is the highest-performance version of the Lucid Air, boasting 1,234 horsepower from three motors, 427 miles of an EPA-estimated range (when equipped with standard wheel covers). The Lucid Gravity provides the interior space and practicality of a full-size SUV within the exterior footprint of a mid-size SUV. It provides space for up to seven adults. It has engineered the Lucid Gravity to deliver up to 450 miles of EPA-estimated range.
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