Lucid Reports Q1 2026 Results and Expands Robotaxi Partnership with Uber

Lucid Motors announced in a press release that it produced 5,500 vehicles and delivered 3,093 in the first quarter of 2026, marking a 149 percent and 20 percent increase respectively compared to the same period in 2025. Revenue for the quarter reached $282.5 million. Order intake in North America rose 144 percent in March from the prior month.

The company completed a capital raise totaling about $1.05 billion in April. This included $550 million in convertible preferred stock from Ayar Third Investment Company, $300 million from a registered offering of common stock, and $200 million in additional equity investment from Uber, bringing Uber’s total investment in Lucid to $500 million. Lucid also increased its Delayed Draw Term Loan from the Public Investment Fund by $500 million and ended the quarter with approximately $4.7 billion in pro forma liquidity.

Lucid expanded its robotaxi partnership with Uber to a total of at least 35,000 vehicles, including Lucid Gravity and midsize models. It completed delivery of all Lucid Gravity robotaxi alpha test vehicles, and employees at partner companies began test rides using the Uber app. Partner Nuro also received a California DMV permit for driverless testing, enabling public robotaxi operations later this year.

On April 14, Lucid appointed Silvio Napoli as its next CEO, with interim CEO Marc Winterhoff returning to his role as COO. The company also named its first authorized retail and service partner in Europe and reported that the Lucid Gravity SUV was awarded the 2026 World Luxury Car of the Year.