LCID Stock Pops After Hours As Uber Loads Up On More Shares

• Uber now intends to purchase at least 35,000 Lucid vehicles for use as robotaxis on its platform and committed to an additional $200 million investment in the EV maker, taking its total investment up to $500 million. 
• Under the revamped partnership, Uber plans to purchase both Gravity SUVs and vehicles based on Lucid’s upcoming, smaller midsize platform.
• Uber currently owns nearly 37.8 million shares of Lucid.

Shares of Lucid Group Inc (LCID) edged up 2% after hours after ride-hailing giant Uber Technologies (UBER) revealed that it now has a 11.5% stake in the EV maker.

The revision in holdings follows an expansion of the agreement between Uber and Lucid to deploy the latter’s electric vehicles as robotaxis on the Uber platform.

Revised Partnership

The expanded partnership was announced earlier this month. Uber now intends to purchase at least 35,000 Lucid vehicles for use as robotaxis on its platform and committed to an additional $200 million investment in the EV maker, taking its total investment up to $500 million.

Uber and Lucid first inked a partnership in July 2025 to deploy at least 20,000 of the latter's Gravity SUVs on Uber by integrating it with California-based startup Nuro Inc’s autonomous driving system. Lucid completed delivery of the test vehicles under the deal in February.

However, under the revamped partnership, Uber plans to purchase both Gravity SUVs and vehicles based on Lucid’s upcoming, smaller midsize platform.

Uber currently owns nearly 37.8 million shares of Lucid. However, the dominant stakeholder at the company is the Public Investment Fund (PIF) of Saudi Arabia, which held over 54% of the company’s outstanding shares as of 2025-end, according to data from Fiscal AI.

How Did Retail Traders React?

On Stocktwits, retail sentiment around LCID stock stayed within the ‘extremely bullish’ territory over the past 24 hours while message volume remained at ‘extremely high’ levels.

Meanwhile, sentiment around UBER trended in ‘neutral’ territory coupled with ‘high’ message volume.

A Stocktwits user noted that Uber and PIF now cumulatively own a significant stake in the company.

Another user speculated that Uber might take the company private.

Yet another opined that Lucid is ahead of its rival Rivian Automotive (RIVN) in terms of its respective agreements with Uber.

While LCID stock has lost about 71% over the past 12 months, UBER stock gained 6%. 

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