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Why Lucid Stock Surged Today
Lucid (NASDAQ: LCID) stock closed out Tuesday's trading with big gains. The electric vehicles (EV) company's share price gained 5.3% in a session that saw the S&P 500 fall 0.7% and the Nasdaq Composite decline 0.6%. The stock had been up as much as 13.9% at one point in the day's trading.
Lucid shares moved higher today on a recent disclosure that Uber holds a larger-than-expected share in the company. Even with today's pop, the stock is down roughly 33% year to date.
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Lucid confirms $750M of fresh investment, scaled-up Uber robotaxi project
Alongside the appointment of a new CEO and a vote-of-confidence investment from Saudi Arabia’s PIF, Uber is agreeing to up its investment and buy 15,000 more vehicles.
Lucid Group on Tuesday announced an expanded partnership with Uber, including a new $200 million investment in Lucid plus the commitment to purchase at least 35,000 vehicles that include Lucid Gravity and upcoming midsize EVs—15,000 more than previously announced—for use in Uber’s future global robotaxi service. This brings Uber’s total investment in Lucid to $500 million.
Saudi Public Investment Fund affiliate Ayar Third Investment Company also committed to a new $550 million stock investment. Including a $300 million registered offering of common stock, the transactions add up to a $1.05 billion influx, according to the company, which announced the financial news the same day as it confirmed new CEO Silvio Napoli.
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Uber (UBER) now owns 11.5% of Lucid (LCID): it gets interesting
A new SEC filing reveals that Uber Technologies has become a major shareholder of Lucid Group, holding 37.7 million shares of Class A common stock — an 11.5% ownership stake that makes the ride-hailing giant one of Lucid’s largest investors outside the Saudi Public Investment Fund.
The filing, a Form 3 submitted to the SEC on April 20 with an event date of April 14, confirms that Uber has crossed the 10% ownership threshold after pouring a total of $500 million into the struggling EV maker as part of their expanding robotaxi partnership.
Uber’s stake in Lucid has been building in stages. The ride-hailing company first announced a $300 million investment alongside a commitment for 20,000 Lucid Gravity robotaxis in July 2025. That initial investment closed in September 2025 and gave Uber a significant but undisclosed position in Lucid’s share register.
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