Lucid secures $1.05B as Uber expands robotaxi deal

Lucid raises $1.05B through stock offering and investments from Uber and PIF. The deal includes up to 35,000 vehicles for robotaxi services. Learn more.

Lucid has secured approximately $1.05 billion by combining a public stock offering with new investments from Uber and Saudi Arabia’s sovereign wealth fund, directly linking fresh capital to its ambitions in the robotaxi market.

The company priced its public offering at $300 million, while additional funding came from strategic partners. Uber increased its total investment to $500 million, and Ayar Third Investment Company, an affiliate of the Public Investment Fund, committed $550 million in convertible preferred stock. At the same time, Uber expanded its vehicle purchase agreement to at least 35,000 Lucid vehicles, intended for use in a future global robotaxi network.

This move goes beyond simple fundraising. Lucid continues to operate with significant losses — about $2.7 billion in 2025 against roughly $1.35 billion in revenue. The new capital is closely tied to sustaining production, launching new models, and advancing autonomous driving capabilities.

The partnership with Uber reflects a broader strategic shift. Together with Nuro, the companies have already unveiled a robotaxi prototype based on the upcoming Lucid Gravity, designed for multiple passengers and equipped with Level 4 autonomous technology. Road testing is expected to begin in 2026, with initial commercial deployment planned in the United States.

For Lucid, this positions the company within one of the most closely watched segments of the automotive industry. Robotaxi services are moving from pilot programs toward real-world use, with some operators already handling hundreds of thousands of autonomous rides weekly. However, large-scale deployment is still expected later in the decade, making current partnerships especially significant.

The role of the Public Investment Fund remains central. Since first investing in Lucid in 2018, the fund has supported the company’s growth, including manufacturing expansion and the construction of a facility in Saudi Arabia aimed at increasing production capacity. The latest investment reinforces that long-term relationship.

Ultimately, Lucid is not just raising capital — it is securing a combination of funding, demand, and strategic alliances. This provides short-term financial stability while aligning the company’s future with the emerging autonomous mobility market, where competition is only beginning to intensify.