Lucid shares rose 11% after announcing $750 million new investments, including $550 million convertible preferred stock from Ayar Third Investment (PIF affiliate).
Uber added $200 million, raising its total stake to $500 million, and expanded the robotaxi partnership to at least 35,000 Lucid vehicles.
Lucid will launch robotaxi service in San Francisco Bay Area later this year using Gravity, after completing test vehicle deliveries in February.
Silvio Napoli, former Schindler Group CEO, will become Lucid’s CEO, with interim CEO Marc Winterhoff moving to COO role.