Saudi Arabia's PIF invests $550 million in Lucid, while Uber adds $200 million, aiming for a robotaxi launch in 2026. Lucid produces vehicles, Nuro supplies tech, and Uber handles operations, marking a strategic shift from Tesla's model.

Saudi Arabia's PIF invested an additional $550 million in Lucid Group, boosting its total investment to $8 billion, while Uber committed to purchasing 35,000 vehicles for its robotaxi service. Lucid aims for full-scale production in Saudi Arabia this year, targeting 150,000 vehicles annually by 2029, despite a significant drop in market capitalization.