Electric vehicle maker Lucid Group secured $750 million in new capital commitments to support its next growth phase, drawing backing from key investors. Uber Technologies and Saudi Arabia’s Public Investment Fund anchored this latest financing round, providing essential liquidity for the luxury EV producer’s operations.

Uber’s commitment alone accounted for an additional $200 million injection, elevating its total investment in Lucid to $500 million to date. This funding supports Uber's plan to purchase at least 35,000 specialized Lucid vehicles for its developing global robo-taxi platform, tying the financing directly to fleet deployment.

Separately, Lucid announced a leadership change, naming Silvio Napoli as its new Chief Executive Officer. Napoli transitions from leading industrial technology firm Schindler Group and replaces Marc Winterhoff, who served as interim CEO since February 2025. Napoli joins the board effective immediately.

This infusion of capital solidifies Lucid's short-term runway amidst competitive EV pressures. The executive shift signals a fresh strategic direction under Napoli’s tenure, potentially aligning manufacturing and technology adoption with Uber's autonomous ride-hailing ambitions.