Gate News message, April 15 — Saudi Arabia’s Public Investment Fund (PIF) has made an additional $550 million investment in U.S.-based electric vehicle maker Lucid Group through its affiliate Ayar Third Investment Company. The funding aims to strengthen Lucid’s capital position and boost production. Separately, Uber has committed to purchasing at least 35,000 Lucid vehicles for its future global robotaxi service.
PIF has been Lucid’s majority owner since April 2019, with total investments now reaching $8 billion for a 58.4% stake. The sovereign wealth fund previously injected $2.5 billion in 2024. Uber has also added $200 million to its investment, bringing its total stake in Lucid to $500 million following a $300 million injection in September 2025.
Lucid plans to begin full-scale vehicle manufacturing in Saudi Arabia this year, transitioning from assembly-only operations at its facility near Jeddah. The company expects to reach full production capacity of 150,000 vehicles annually by 2029. Lucid’s market capitalization has fallen from a peak of nearly $63 billion after its 2021 IPO to approximately $3 billion currently.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The Stablecoin Era! Circle founder Jeremy Allaire makes the 2026 Global Top 100 Most Influential People list
Against the backdrop of the gradual expansion of global crypto and financial regulation, Circle co-founder Jeremy Allaire was named to Time’s 2026 list of the 100 most influential people, symbolizing the growing importance of stablecoins. Circle has evolved from a digital payments company into a stablecoin platform centered on USDC, and plans to become part of global financial infrastructure. This shift makes its business model more akin to a digital money market fund, foreshadowing the potential profitability and growth of stablecoins in the future.
ChainNewsAbmedia3h ago
Allbirds Raises $50M via Convertible Bonds, Pivots to AI Infrastructure as NewBird AI
Allbirds has raised $50 million through convertible bonds and will transition from footwear retail to AI computing, rebranding as NewBird AI to reflect its new mission.
GateNews6h ago
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 15
Gate News message, according to the April 15 update, Bitcoin ETFs recorded a single-day net inflow of 4,566 BTC (approximately $337.41 million) and a 7-day net inflow of 6,753 BTC (approximately $499.04 million). Ethereum ETFs saw a single-day net inflow of 23,405 ETH (approximately $54.37 million)
GateNews7h ago
TradFi Rise Alert: BE (Bloom Energy Corp) Rises Over 22%
Gate News: According to the latest Gate TradFi data, BE (Bloom Energy Corp) has surged by 22% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews7h ago
Crypto Hedge Funds Expand into Traditional Assets: Oil, Copper, and Nasdaq 100 Now on All-Weather Trading Platforms
Crypto hedge funds are diversifying into traditional commodities and equity indices, indicating that crypto trading infrastructure is merging with mainstream finance, as reported by Bloomberg.
GateNews8h ago
Strive Raises SATA Dividend to 13%, Adds 27 Bitcoin to Bring Total Holdings to 13,768 BTC
Strive, a Nasdaq-listed bitcoin treasury company, is raising its Series A Preferred Stock dividend to 13.00%. It also acquired 27 additional bitcoins, totaling 13,768 BTC, ensuring dividend payments can be supported for about 19.6 years.
GateNews8h ago
