Lucid Gets A Triple Boost: $750M Capital Infusion, Uber Robotaxi Scale-Up, New CEO

• Lucid announced that Uber is investing an additional $200 million in the company, increasing its total investment to $500 million.
• The company also stated that PIF affiliate Ayar Third Investment has committed to a new investment of $550 million in new investment in Lucid, bringing the total investments announced today to $750 million.
• Lucid also named Silvio Napoli as its new CEO, after the sudden exit of veteran Peter Rawlinson more than a year ago.

Lucid Group Inc. (LCID) shares rallied more than 13% in Tuesday’s pre-market trade before giving up some of the gains after the company named a new CEO and new investments from Uber Technologies Inc. (UBER) and Saudi Arabia’s sovereign wealth fund, Public Investment Fund.

Lucid has expanded its partnership with Uber, with the ride-hailing giant increasing its purchase commitment to at least 35,000 Lucid vehicles to be used in Uber’s robotaxi service.

If Lucid shares continue the initial momentum when the market opens on Tuesday, it would be the LCID stock’s biggest single-day gain in nearly three months.

Lucid Secures $750M Investment

Lucid announced that Uber is investing an additional $200 million in the company, increasing its total investment to $500 million.

The company also stated that PIF affiliate Ayar Third Investment has committed to a new investment of $550 million in Lucid, taking the new total investments announced today to $750 million.

Uber has also ramped up its commitment to purchase Lucid vehicles for its robotaxi service by 75%, increasing it to 35,000 units. This is up from the previously announced pledge of over 20,000 vehicles in July 2025.

“We continue to deepen our commitments with both Lucid and Nuro because both companies are executing extremely well against our fast-moving shared roadmap. That strong execution keeps us on track to deepen our investment and increase the number of vehicles we plan to deploy,” said Uber CEO Dara Khosrowshahi.

He added that Lucid's future Midsize platform creates an even clearer path to stronger unit economics.

The company also announced a new $300 million offering of its common stock, expected to close on or about April 15, 2026.

Meet Lucid’s New CEO

Lucid announced that Silvio Napoli will be the company’s new CEO, taking charge of the automaker from veteran Peter Rawlison, who led the company for six years.

Napoli has previously led the Schindler Group and will relocate to the U.S. from Switzerland to lead Lucid.

Napoli’s appointment comes more than a year after the abrupt exit of Rawlinson, who announced his resignation after the launch of the Lucid Gravity SUV in February 2025.

Following Rawlin’s exit, Lucid cautioned that its Midsize platform may either be delayed or that it may not launch at all. However, last month, the company provided more details about the platform, featuring an all-new electric drive unit. The company plans to price it under $50,000, with an aim to target both consumer and business segments.

How Did Retail Traders React?

Retail sentiment on Stocktwits around Lucid trended in the ‘bullish’ territory. LCID stock was among the top trending tickers on the platform at the time of writing.

One user said Napoli’s appointment was a good move by the Lucid board.

Another user expressed disappointment after Lucid announced the $300 million stock offering.

LCID stock is down 13% year-to-date, while UBER stock is down 11%. The Vanguard Small-Cap Growth Index Fund ETF (VBK) is up 36% over the past 12 months, while the iShares Russell Mid-Cap ETF (IWR) is up 28%.

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