Lucid secures $1.05B investment, expands Uber deal

Lucid Group has announced a significant financial boost, securing $1.05 billion in new investments. This funding comes from its major backers, the Public Investment Fund (PIF) and Uber. In conjunction with this investment, Lucid and Uber are expanding their robotaxi partnership, with Uber committing to at least 35,000 vehicles. This strategic move aims to bolster Lucid's operations and production capabilities as the electric vehicle manufacturer navigates a critical phase in its growth.