who owns lucid motors

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Image Credit: Saudi Arabia owns a majority stake in Tesla rival Lucid Motors

Lucid CEO Peter Rawlinson said there’s a long runway for the EV start-up’s stock and market cap to surpass traditional automakers and be valued more like industry leader Tesla. Lucid’s market value blew past Ford on Tuesday to $89.9 billion following a 24% runup in the EV start-up’s stock price.Nov 16, 2021

Is Lucid Motors a Buy Right Now?

Feb 17, 2021 · Lucid Motors was founded in 2007 as Atieva Inc. by former Tesla executive Bernard Tse and acclaimed entrepreneur Sam Weng. During the early stages, Lucid was funded by venture investors from China and Silicon Valley. Companies like BAIC Motor and LeEco had …

Who is backing Lucid Motors?

Jun 25, 2020 · Saudi Arabia owns more than half of Lucid Motors New, 4 comments A new lawsuit confirms the California EV startup gave up a lot for the Kingdom’s $1.3 billion

Is Lucid Motors going public?

Similarly, Who is lucid motors owned by? CEO Peter Rawlinson leads the company. At the helm of Lucid is Peter Rawlinson, a former chief engineer of the Model S under Elon Musk, Tesla’s CEO. …

Is lucid a public company?

Nov 09, 2021 · Lucid Motors History. Formerly known as Atieva, Lucid Motors was founded in 2007 and is based in Newark, California, near Silicon Valley. As Atieva, Lucid was originally …

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Lucid Motors Debuts on Nasdaq Through Merger with Churchill Capital Corp IV. There were luxury cars, then EVs, and now there’s Lucid — the new generation of luxury electric.

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Who owns the Lucid car company?

CEO Peter Rawlinson leads the company

At the helm of Lucid is Peter Rawlinson, a former chief engineer of the Model S under Elon Musk, Tesla’s CEO. He left Tesla after three years, feeling frustrated and limited in his work there.Feb 28, 2022

Is Lucid a Chinese company?

Founded in 2007, the company is headquartered in Newark, California, USA. Its founders are two Chinese-born businessmen, namely Xie Jiapeng, Tesla’s former head of battery R&D, and Wen Shiming, a former middle-level manager of Oracle, a language service company.

Who owns most of Lucid Motors?

Top 10 Owners of Lucid Group Inc
Stockholder Stake Total value ($)
The Vanguard Group, Inc. 1.68% 706,124,699
Goldman Sachs & Co. LLC (Private … 0.71% 298,452,464
BlackRock Fund Advisors 0.52% 217,353,515
Franklin Advisers, Inc. 0.52% 216,537,184

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Who owns shares of Lucid Motors?

Our majority stockholder, Ayar, owns approximately 62.7% of our outstanding common stock.

Where is Lucid factory?

Casa Grande, Arizona
About Lucid Motors

Production of the Lucid Air will begin in late 2020 in Lucid’s new factory in Casa Grande, Arizona.Sep 24, 2021

Is Lucid a Saudi company?

Lucid Group’s largest shareholder has agreed to buy 100,000 of its electric vehicles over the next decade.Apr 26, 2022

Who backed Lucid Motors?

In 2014, Lucid garnered a nine-digit round of funding to develop its own complete vehicle. This included investments from companies like Venrock, Mitsui, and JAFCO — all of which remain investors today.Nov 9, 2021

How much does PIF own of Lucid?

a 62.72 per cent
The PIF also owns a 62.72 per cent stake in electric car company Lucid, which has a market value of about US$71 billion, a significant boost in value from the end of September.Nov 16, 2021

Who Lucid investors?

Lucid Motors investors
Date Investors Amount
Sep 2018 * PIF Public Investment Fund $1.0b Valuation: $6.0b
Feb 2021 Churchill Capital Corp IV $4.4b Valuation: $24.0b
Feb 2021 Wellington Management BlackRock Fidelity Neuberger Berman Group Winslow Capital Franklin Templeton Investments $2.5b Valuation: $16.0b
Total Funding $3.6b

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Who owns Churchill Capital?

Michael Klein
Our founder, Michael Klein, is also the founder and managing partner of M. Klein and Company, which he founded in 2012.
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Where is Lucid Motors located?

Lucid Motors, Inc. (formerly known as Atieva) is an American electric vehicle manufacturer headquartered in Newark, California. Lucid’s other divisions include energy storage, and original equipment manufacturing. The company was founded in 2007. As of 2021. [update] , its first car, Lucid Air, is in development.

When will Lucid Motors be in production?

As of November 2016. [update] , the company had planned to break ground in 2017, and have cars in production by early 2019. On September 17, 2018, Lucid Motors announced that they were in talks with the Public Investment Fund of Saudi Arabia for a funding valued at over $1 billion.

Where is Lucid manufactured?

On November 29, 2016, state and company officials announced the planned construction of Lucid’s US$700 million manufacturing plant in Casa Grande, Arizona, which was projected to employ up to 2,000 workers by the mid-2020s, initially building 20,000 cars and expanding up to 130,000 cars per year.

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When will Lucid merge with Churchill?

In February 2021, Lucid Motors announced a deal valued at $11.75 billion to merge with Churchill Capital Corp IV, a publicly traded special-purpose acquisition company. CEO Rawlinson announced Lucid’s intention to produce its Project Gravity SUV by 2023, then offer a competitor to Tesla’s Model 3 by 2024 or 2025.

When will Lucid Air be released?

A prototype of the Lucid Air fully electric car was unveiled in December 2016. Lucid Air production was expected to start in spring 2021. In November 2020, The Lucid Air Pure was announced with 406 miles (653 km) of projected range and 480 horsepower (360 kW) and a starting price of US$77,400.

How fast is Lucid?

This 4-door sedan is able to reach a software-limited top speed of 217 mph (349 km/h).

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Image Credit: Saudi Arabia owns a majority stake in Tesla rival Lucid Motors

Does Lucid work with Alexa?

Lucid is collaborating with Amazon to build in compatibility with Amazon’s voice assistant Alexa, allowing drivers to use the voice assistant for navigation, phone calls, media streaming, smart home control, and other activities while driving.

Who is the CEO of Lucid Motors?

In fact, during an interview with The Verge last November, Lucid Motors CEO Peter Rawlinson implied that his startup would be able to influence the Kingdom — not the other way around. “I think that we can be part of a movement which could catalyze change for good. That’s what I see,” Rawlinson said at the time.

Is Lucid Motors a Saudi company?

But Lucid Motors has remained partnered with Saudi Arabia ever since, despite the deal not officially being approved by the US government’s Committee on Foreign Investment in the United States until April 2019.

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Is Lucid Motors partnering with Saudi Arabia?

But Lucid Motors has remained partnered with Saudi Arabia ever since, despite the deal not officially being approved by the US government’s Committee on Foreign Investment in the United States until April 2019.

Who filed the lawsuit against Lucid Motors?

The lawsuit was filed by Lucid Motors’ former head of finance, Doug Coates, who believes he’s entitled to certain severance benefits based on the language of the deal he signed with the company. Coates argues he’s eligible for these benefits because the Saudi Arabia investment triggered a “Change in Control” clause in his agreement …

Where is Lucid Air made?

The startup is now building a $700 million factory in Arizona, where it plans to put the Lucid Air into production at the end of this year.

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Image Credit: Saudi Arabia owns more than half of Lucid Motors – The Verge

Is Saudi Arabia a major investor in Uber?

Saudi Arabia is also a major investor in Uber and had very early conversations about funding Tesla in 2018 before CEO Elon Musk exaggerated the talks by tweeting he had “funding secured” to take his company private, which led to a fight with US financial regulators.

Who is the CEO of Lucid Motors?

Lucid Motors’ SPAC Merger. In 2019, Lucid Motors named Peter Rawlinson CEO of the company, while he also maintained his previous role of CTO. Toward the end of 2020 and the beginning of 2021, rumors began to swirl about Lucid Motors working behind closed doors on a SPAC merger with Churchill Capital Group IV ($CCIV).

Where is Lucid Motors located?

Formerly known as Atieva, Lucid Motors was founded in 2007 and is based in Newark, California, near Silicon Valley. As Atieva, Lucid was originally focused on developing batteries and electric powertrains for other vehicle manufacturers. Eventually, it had accumulated over 50 patents pertaining to its core battery system in the US alone.

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Image Credit: Saudi Arabia owns a majority stake in Tesla rival Lucid Motors

How much money did Lucid Motors invest in Saudi Arabia?

In September of 2018, Lucid Motors revealed it was in talks with the Public Investment Fund of Saudi Arabia (PIF) regarding a funding investment of over $1 billion.

When was Lucid Air made?

Lucid Air. The Air was first unveiled in 2016 as a prototype, with production to begin once the Casa Grande facility had been completed. In 2018, the Lucid prototype began to make headlines by smoking the lap times of production vehicles like Jaguar’s I-Pace at the Laguna Seca course.

When will Lucid Motors phase 2 be completed?

Phase 2, aka “Project Gravity,” is slated to break ground at the end of 2021, and complete in summer 2023. Lucid Motors plans to have four total phases for its Casa Grande facility totaling an estimated 5.1 million square feet and an eventual output of 400,000 vehicles per year.

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Who is the CEO of Lucid Motors?

Peter Rawlinson will continue to lead Lucid as CEO and CTO. Lucid currently employs nearly 2,000 people, with 3,000 employees expected to be added in the U.S. domestically by the end of 2022. NEWARK, CA and NEW YORK, NY — February 22, 2021 — Lucid Motors (“Lucid”), which is setting new standards for sustainable mobility with its advanced luxury …

Is Lucid Motors a special purpose acquisition?

NEWARK, CA and NEW YORK, NY — February 22, 2021 — Lucid Motors (“Lucid”), which is setting new standards for sustainable mobility with its advanced luxury EVs, and Churchill Capital Corp IV (NYSE: CCIV) (“CCIV” or “Churchill”), a special purpose acquisition company, announced today that they have entered into a definitive merger agreement.

How many employees does Lucid have?

Lucid currently employs nearly 2,000 people, with 3,000 employees expected to be added in the U.S. domestically by the end of 2022. NEWARK, CA and NEW YORK, NY — February 22, 2021 — Lucid Motors (“Lucid”), which is setting new standards for sustainable mobility with its advanced luxury EVs, and Churchill Capital Corp IV (NYSE: CCIV) …

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Image Credit: Saudi Arabia owns a majority stake in Tesla rival Lucid Motors

Where is Lucid located?

About Lucid. Headquartered in the heart of Silicon Valley in Newark, California, Lucid has benefitted enormously from California’s forward-thinking, innovation-centered business environment. Lucid’s management looks forward to continuing to operate from its California headquarters as a public company.

Where is Lucid Air made?

In Casa Grande, Arizona, Lucid is already manufacturing Lucid Air pre-production vehicles in a state-of-the-art facility called AMP-1 that represents the first greenfield EV manufacturing facility in North America.

What is Lucid Air?

About Lucid Air. Lucid’s first car, the Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design underpinned by race-proven technology.

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Image Credit: Saudi Arabia owns a majority stake in Tesla rival Lucid Motors

Is Lucid Motors going public?

The company is going public “to accelerate into the next phase of our growth ,” Lucid Motors CEO Peter Rawlinson said. A SPAC, also known as a blank-check company, is an alternative to a traditional initial public offering. These blank-check companies have no assets beyond cash.

How many reservations did Lucid Motors make?

In a slide deck filed with the U.S. Securities and Exchange Commission July 13, Lucid Motors touted more than 10,000 reservations for the Lucid Air, representing $900 million in anticipated sales.

When will Lucid Air be released?

Lucid Motors is on pace to start delivering its Lucid Air — a high-performance, ultraefficient luxury EV sedan — in late 2021, according to the company. The company expects to roll out its Gravity performance luxury SUV in 2023. The Lucid Air has not yet started production, but has just completed its preproduction phase.

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Is Lucid Air still in production?

The Lucid Air has not yet started production, but has just completed its preproduction phase. In a slide deck filed with the U.S. Securities and Exchange Commission July 13, Lucid Motors touted more than 10,000 reservations for the Lucid Air, representing $900 million in anticipated sales.

Is Lucid Motors merging with Blank Check?

On Friday, Lucid Motors shareholders voted to approve the merger of the blank check company. In mid-July, the company said it had finished its preproduction phase after a series of delays. “The testing and validation of Lucid Air is progressing well,” CEO Peter Rawlinson said on the call, according to Bloomberg.

How many miles does the Lucid Air have?

It describes the Lucid Air as the “quickest, longest-range, fastest-charging electric car in the world,” delivering 500 miles of range. The Environmental Protection Agency hasn’t certified that range yet. The Air also boasts high-end features such as a “glass cockpit.”.

Overview

History

Lucid was founded in 2007 under the name Atieva and originally focused on building electric vehicle batteries and powertrains for other vehicle manufacturers.
Lucid’s Chief Executive Officer Peter Rawlinson, formerly served as VP of Engineering at Tesla, and Vice President Derek Jenkinspreviously worked as H…

Vehicles

Lucid mainly developed battery technology in its early years, but began development of its first car in 2014.
The company initially used a Mercedes Metris van named “Edna”, to develop the powertrain.
A prototype of the Lucid Airfully electric car was unveiled in December 2016. L…

Batteries

The Lucid Air will debut with a 900V+ electrical architecture, and custom lithium-ion battery cells.
Lucid’s car uses the 2170 standard for its lithium-ion battery cells, and supply agreements have been signed with both Samsung SDI and LG Chem.
Lucid has designed, developed, manufactured and supplied battery packs for all race teams in the 2018–19 Formula E season, and will continue to do so for the 2019–20 season, in collaboration …

Manufacturing facilities

In December 2019, Lucid broke ground on a factory in Casa Grande, Arizona, the first greenfield facility for EV manufacturing in the United States. On December 1, 2020, Lucid completed factory construction, dubbed AMP-1, and “aims to ramp up to 400,000 electric cars per year.”
The US$700 million facility was expected to begin producing the Lucid Airby spring 2021. The initial phase includes an initial 999,000 square feet (92,800 m ). Phase 2 of construction was ex…

See also

• List of automobile manufacturers of the United States
• List of production battery electric vehicles
• Plug-in electric vehicles in the United States

External links

• Official website
• Business data for Lucid Group, Inc.: