Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced electric vehicles, today announced the closing of a $300 million investment in the company by Uber Technologies, Inc. (NYSE: UBER) (“Uber”). The strategic investment was made as part of the next-generation premium global robotaxi program announced in July.

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The robotaxi, which will utilize Lucid’s electric vehicle technology platform, is planned to be built at Lucid’s manufacturing facility in Arizona and will operate exclusively on Uber’s ride-hailing platform. The funding supports the partnership between the two companies and contributes to development costs associated with the autonomous robotaxi initiative.

Expected to first launch later next year in a major US city, the new robotaxi service combines the industry-leading software-defined vehicle architecture of the Lucid Gravity, the scalability and proven capability of the Nuro Driver™ Level 4 autonomy system, and Uber’s vast global network and dynamic fleet management, delivering a fully integrated robotaxi experience developed for comfort, safety, and scale.

The robotaxi will leverage Lucid Gravity’s advanced technology platform, redundant electrical and controls architectures, and long range, which together make it an ideal fit for use in a scalable robotaxi offering. Uber aims to deploy 20,000 or more Lucid vehicles through the program over six years.

“Lucid’s innovations and technologies are second to none, and Uber’s investment is just the latest example of a third-party validating our highly advanced technical platform,” said Marc Winterhoff, Interim CEO at Lucid. “We look forward to further strengthening our close working partnership with Uber in the years to come, and continuing to explore new markets, opportunities and partners that can best leverage Lucid’s leading technology.” 

About Lucid Group 

Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.