Overview
- Lucid, which announced the moves Tuesday, raised about $1.05 billion through a $300 million common‑stock sale and $750 million from Uber and PIF affiliate Ayar Third.
- Uber increased its minimum purchase to at least 35,000 Lucid vehicles for a future robotaxi service and added $200 million, bringing its total Lucid investment to $500 million.
- Ayar Third, tied to Saudi Arabia’s sovereign wealth fund, agreed to buy $550 million of convertible preferred shares, deepening support from Lucid’s majority backer.
- Lucid named Silvio Napoli as CEO, pending U.S. work authorization, and interim chief Marc Winterhoff will return to the role of chief operating officer.
- Nuro is leading on‑road testing that began in December 2025, with a Bay Area launch targeted later in 2026 using the Gravity SUV and a lower‑cost midsize platform built for fleet economics.