Key Highlights
- Shares of Lucid Group rallied 11% on Tuesday following news of a $750 million capital infusion from Ayar Third Investment Company ($550M) and Uber ($200M).
- Uber has now invested a combined $500 million in the electric vehicle manufacturer.
- The robotaxi collaboration has been scaled up to include at least 35,000 Lucid vehicles, marking a significant increase from prior agreements.
- Former Schindler Group CEO Silvio Napoli has been appointed as Lucid’s new chief executive.
- Autonomous vehicle testing on public roads commenced in December 2025, with commercial operations planned for San Francisco Bay Area later this year.
Tuesday proved eventful for Lucid Group. The electric vehicle manufacturer revealed $750 million in new funding and an enhanced robotaxi partnership with Uber, propelling shares upward by approximately 11% during trading.
Ayar Third Investment Company, connected to Saudi Arabia’s Public Investment Fund, will contribute $550 million via convertible preferred stock. Meanwhile, Uber is adding another $200 million, elevating its total investment in Lucid to half a billion dollars.
Alongside the financial announcement, the companies revealed a substantial expansion of their autonomous vehicle collaboration. The partnership now encompasses at least 35,000 Lucid vehicles — a notable increase from earlier commitments — specifically designed for Uber’s emerging worldwide robotaxi network.
The fleet will incorporate both the Lucid Gravity SUV and an upcoming Midsize platform. The Midsize vehicle is projected to start below $50,000, appealing to fleet operators seeking extended range, generous interior space, and rapid charging capabilities at an accessible price.
Autonomous Deployment Timeline Advances
The collaboration has moved beyond announcements into practical execution. Autonomous road testing launched in December 2025, with Lucid completing delivery of all test vehicles by February 2026. The partners are aiming for a commercial rollout in the San Francisco Bay Area before year-end using the Lucid Gravity platform.
This development expands upon the original agreement unveiled in July 2025 among Lucid, Uber, and autonomous technology provider Nuro.
Interim CEO Marc Winterhoff stated the Midsize platform “will enable autonomous mobility at scale through cost efficiency, manufacturing simplicity, and a technology-forward user experience.”
Leadership Transition Announced
Lucid simultaneously announced a significant executive change. Silvio Napoli, former Chairman and CEO of global elevator manufacturer Schindler Group, will assume the role of CEO and join the board of directors. Winterhoff will transition to Chief Operating Officer following Napoli’s arrival.
The appointment represents a strategic choice — Napoli contributes extensive international manufacturing and operational expertise crucial for a company ramping up large-scale fleet production.
Wall Street analysts maintain divided opinions on LCID. Currently, two analysts recommend buying, five suggest holding, and three advise selling. MarketBeat’s consensus rating stands at “Reduce,” with a mean price target of $12.86. Citigroup maintains the most optimistic outlook at $17, while RBC Capital recently lowered its forecast from $10 to $8.
Shares currently trade beneath both the 50-day moving average of $9.96 and the 200-day moving average of $13.25. The company maintains a debt-to-equity ratio of 3.0 and reports a negative P/E ratio of -0.76.
Monday’s trading activity reached approximately 10.76 million shares — roughly 50% higher than typical daily volume — before Tuesday’s announcements drove additional upward movement.
Institutional ownership comprises around 75% of LCID shares.
