Riyadh - Sharikat Mubasher: Lucid, the global manufacturer of the world's most advanced software-defined vehicles and technologies, secured investments totaling $750 million from Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), and Uber.
As part of the agreement, the PIF’s company committed a new investment of $550 million, further strengthening the strategic partnership between the PIF and Lucid, the vehicle maker announced in a press release today.
Additionally, Uber committed an additional $200 million investment in Lucid, bringing its total investments to $500 million to date. It also increased its purchase commitment to at least 35,000 Lucid vehicles designed exclusively for use as part of Uber's future global robotaxi service.
Together, these investments enhance Lucid's capital position as it advances its best-in-class software-defined vehicles and diversified enterprise platform strategy.
Marc Winterhoff, Interim CEO at Lucid, said: “Today's announcement demonstrates the growing strength of our relationship with Uber, our continued partnership with the PIF, and the benefits our software-defined EV platforms bring to next-generation mobility networks. Building on the rapid progress of our collaboration with Lucid Gravity, our Midsize platform will enable autonomous mobility at scale through cost efficiency, manufacturing simplicity, and a technology-forward user experience.
As outlined during Lucid Investor Day, Lucid's future Midsize vehicles are expected to offer a similar range to competitors while using smaller battery packs, and at the same time delivering best-in-class interior space and comfort, as well as superior charging speed.
