Lucid Group (LCID) shares rose over 11% following the announcement of $750 million in new investments.
An affiliate of Saudi Arabia’s Public Investment Fund (PIF) provided $550 million of the new capital. Uber (UBER) invested an additional $200 million, bringing its total investment in the automaker to $500 million.
Uber expanded its commitment to purchase at least 35,000 Lucid vehicles for its future global robotaxi service. This agreement significantly increases a previous commitment and builds on an initial deal from July 2025.
The companies plan a commercial robotaxi launch in the San Francisco Bay Area later this year. Autonomous on-road testing for the service began in December 2025.