Uber is no longer just a partner to Lucid Group; it is now one of its most significant patrons. According to a recent SEC filing, Uber Technologies has amassed 37.7 million shares of the electric vehicle manufacturer, representing an 11.5% ownership stake. This move places the ride-hailing giant behind only the Saudi Public Investment Fund in terms of influence over the luxury EV startup’s trajectory.
The equity position follows a $500 million capital infusion, providing a critical lifeline to Lucid as it navigates a volatile EV market and the immense costs of scaling production. For Uber, the investment represents a strategic bet on the hardware that will underpin its autonomous future. The two companies have already begun a collaborative effort centered on robotaxis, aiming to pair Uber’s vast logistics network with Lucid’s high-efficiency powertrain technology.
This shift marks a quiet evolution in Uber’s corporate strategy. After offloading its internal self-driving division years ago, the company is once again entrenching itself in the automotive supply chain—this time as a major stakeholder rather than a manufacturer. As Uber pushes to decarbonize its global fleet, the sleek, long-range engineering of Lucid’s vehicles offers a premium template for the next generation of urban transit.
With reporting from Electrek.
Source · Electrek
