PIF commits $550m to Lucid as Uber expands robotaxi partnership
RIYADH: Saudi Arabia’s Public Investment Fund has committed a fresh $550 million investment to electric vehicle maker Lucid Group through its affiliate Ayar Third Investment Co., as the manufacturer expands its robotaxi partnership.
The new capital comes alongside an expanded commercial agreement between Lucid and Uber, positioning the US-based automaker to supply at least 35,000 vehicles for a planned global robotaxi network.
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