Lucid boosts Q1 vehicle production 149%, raises $1.05B capital, names new CEO, expands Uber robotaxi deal

Lucid Group reported a 149% increase in vehicle production in Q1 2026, producing 5,500 vehicles and delivering 3,093 despite a supplier issue in February. The company raised approximately $1.05 billion in April through convertible preferred stock, common stock offerings, and investments from Uber, boosting liquidity to $4.7 billion pro forma. Lucid appointed Silvio Napoli as new CEO and expanded its robotaxi partnership with Uber to at least 35,000 vehicles, aiming for a commercial robotaxi launch later this year. These moves position Lucid for growth and financial stability amid ongoing operational improvements.