Lucid Group Completes $300 Million Investment from Uber
NEWARK, CA – May 16, 2024 – โคLucid Group, โขInc.today announced โthe completion ofโ a $300โ million investmentโค from uber Technologies, Inc. This strategic partnership aims to advance the growth and deployment of purpose-built โelectric vehicles (EVs) forโค the Uber network.
The investment will support LucidS efforts to engineer, design, and โbuildโฃ EVs tailored forโ the ridesharing and delivery markets. Initial โคplans involve deploying a โคsignificant number ofโค vehicles,though specific quantities were not disclosed.โ A key focus of the collaboration โis exploring opportunities within โฃtheโค autonomous driving market, leveraging Lucid’s technology โand Uber’s platform.
Lucid anticipates the partnership will prioritizeโข specific timing,โฃ focus areas, and vehicle โdeployment schedules. โHowever, theโ company โcautions thatโ these expectations areโ subject to inherent risks and uncertainties.
This dialog contains forward-looking statements regarding Lucid’s expectations related to the partnership, vehicle deployment, andโ expansion into autonomous driving. These statements โare โขbased โขon current assumptions and โmanagement expectations, but are not guarantees of future performance. โActual results may โคdiffer materially due to โขfactors outlined in Lucid’s filings with the Securitiesโฃ and Exchange Commission, including the Annual Reportโฃ on Form 10-Kโ for theโ year ended December 31, 2024, and subsequent Quarterly Reports on Form โ10-Q and Current Reports โขon Form 8-K. โ Lucidโ disclaims any obligation toโฃ update these forward-looking statements.
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This โฃcommunication contains trademarks, service marks,โข tradeโข names and copyrights of lucid Group, Inc. and its subsidiaries and other companies, which are โthe property of their respective owners.
SOURCE Lucid Group
