By Connor Hart


Lucid Group said it expanded its partnership with Uber Technologies and received additional funding from Ayar Third Investment, bolstering the electric-vehicle company's capital position as it continues to scale.

Under the expanded agreement, Uber will purchase at least 35,000 additional Lucid vehicles, designed exclusively for use as part of Uber's future global robo-taxi service, Lucid said Tuesday.

A robo-taxi refers to a self-driving, or driverless, vehicle.

The ride-hailing company also committed to an additional $200 million investment, raising its total investments in Lucid to $500 million to date.

Ayar Third Investment additionally committed a new investment of $550 million, Lucid said.

The agreements came as Lucid separately on Tuesday named Silvio Napoli as its next CEO, succeeding Marc Winterhoff, who will serve as chief operating officer after carrying the interim CEO title since February 2025.

Napoli, who will additionally join Lucid's board, most recently served as chief executive of Schindler Group, an industrial technology company.

As CEO of Lucid, Napoli will oversee the company's next phase of growth, it said.

Shares of Lucid climbed 11%, to $10.25, in premarket trading.


Write to Connor Hart at connor.hart@wsj.com


(END) Dow Jones Newswires

04-14-26 0749ET