Lucid Motors#Manufacturing facilities
{{Short description|American electric vehicle company}}
{{Use American English|date=July 2022}}
{{Use mdy dates|date=July 2022}}
{{Infobox company
| name = Lucid Group, Inc.
| former_name = Atieva, Inc.
| image = Lucid Showroom Miami Worldcenter 29 June 2023 - 2.jpg
| image_caption = Lucid Studio at Miami Worldcenter in 2023
| type = Public
| traded_as = {{ubl|class=nowrap|{{NASDAQ|LCID}} (Class A)|Russell 1000 component}}
| ISIN = {{ISIN|sl=n|pl=y|US5494981039}}
| industry = Automotive
| location = Newark, California, U.S.
| founded = {{Start date and age|2007}}
| num_employees = 6,800
| num_employees_year = 2024
| production = 9,029
| production_year = 2024
| revenue = {{increase}} {{US$|808 million|link=yes}}
| revenue_year = 2024
| operating_income = {{increasenegative}} −{{US$|3.02 billion}}
| income_year = 2024
| net_income = {{decrease}} −{{US$|3.06 billion}}
| net_income_year = 2024
| assets = {{increase}} {{US$|9.65 billion}}
| assets_year = 2024
| equity = {{decrease}} {{US$|3.87 billion}}
| equity_year = 2024
| parent = Public Investment Fund (58.42% as of 2024)
| founders = {{ubl|Bernard Tse|Sam Weng|Sheaupyng Lin}}
| key_people = {{ubl|Marc Winterhoff (Interim CEO){{cite news |last1=Wayland |first1=Michael |title=Lucid CEO steps down; EV maker plans to more than double production in 2025 |url=https://www.cnbc.com/2025/02/25/lucid-ceo-peter-rawlinson-steps-down-ev-maker-plans-to-double-production.html |agency=CNBC |publisher=NBCUniversal}}|Peter Rawlinson (Former CEO/CTO)}}
| website = {{Official URL}}
| footnotes = {{cite web |title=Lucid Group, Inc. 2024 Annual Report (Form 10-K) |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1811210/000162828025007725/lcid-20241231.htm |publisher=U.S. Securities and Exchange Commission |date=25 February 2025}}{{cite web |url=https://www.sec.gov/Archives/edgar/data/1811210/000110465922051645/tm224050-1_def14a.htm#tSOOC |title=Lucid Group, Inc. 2022 Proxy Statement (Form DEF 14A) |date=28 April 2022 |publisher=U.S. Securities and Exchange Commission}}{{cite web |url=https://www.cnbc.com/2023/01/12/lucid-lcid-2022-ev-production-exceeds-expectations.html |title=Electric luxury-car maker Lucid produced more vehicles in 2022 than expected |date=12 January 2023 |last=Rosevear |first=John |publisher=CNBC}}{{Cite news |url=https://www.reuters.com/business/autos-transportation/ev-maker-lucids-deliveries-rise-sequentially-higher-discounts-2024-01-11/ |title=EV maker Lucid's quarterly production, deliveries fall, shares tumble |date=January 11, 2024 |publisher=Reuters}}
}}
Lucid Group, Inc. is an American automotive and technology company that manufactures electric vehicles and supplies advanced electric vehicle powertrain systems. The company is headquartered in Newark, California.{{cite web|url=http://www.recode.net/2016/10/20/13341340/atieva-launch-december |title=Atieva will launch its Tesla competitor by December|date=20 October 2016 |work=Recode |access-date= 21 October 2016|quote=the factory will be built in Casa Grande, which happens to be one of the locations [for] Gigafactory to produce battery packs for Tesla vehicles. That facility ended up in Nevada. "Arizona is not going to want to lose out a second time"}} In September 2021, the company began producing the Lucid Air sedan at its factory in Casa Grande, Arizona.{{Cite web |last=Wayland |first=Michael |date=2021-09-28 |title=EV start-up Lucid begins production of flagship Air sedan ahead of customer deliveries |url=https://www.cnbc.com/2021/09/28/ev-start-up-lucid-begins-production-of-169000-air-dream-edition.html |access-date=2024-06-18 |website=CNBC}} The company expects to begin production of its second model, the Lucid Gravity SUV, in late 2024.{{Cite web |title=Lucid Gravity Electric SUV Revealed |url=https://www.cnet.com/roadshow/pictures/lucid-gravity-electric-suv-revealed/ |access-date=2024-06-18 |website=CNET}} Lucid also supplies and develops powertrain technology to other automakers, including Aston Martin.{{Cite web |last=Hawkins |first=Andrew J. |date=2023-06-26 |title=Lucid Motors strikes deal to power Aston Martin's future lineup of EVs |url=https://www.theverge.com/2023/6/26/23773793/lucid-aston-martin-ev-powertrain-supply-deal |access-date=2024-06-18 |website=The Verge}}
Since April 2019, the majority shareholder of Lucid has been the Public Investment Fund, which is the sovereign wealth fund of Saudi Arabia.{{cite news|url= https://www.greencarreports.com/news/1122459_lucid-motors-gets-real-as-saudi-funding-comes-through |title=Lucid Motors gets real as Saudi funding comes through|author=Eric C. Evarts|publisher=Green Car Reports|access-date=7 October 2019}} Other investors include large index fund managers like Vanguard Group, BlackRock, and State Street Corporation.{{Cite web |date=2024-06-18 |title=BlackRock Just Doubled Down on Lucid Motors (LCID) Stock |url=https://markets.businessinsider.com/news/stocks/blackrock-just-doubled-down-on-lucid-motors-lcid-stock-1032556617 |access-date=2024-06-18 |website=markets.businessinsider.com }}
History
In 2007, Tesla Motors Vice President Bernard Tse, co-founder of Astoria Networks Sam Weng, and inventor Sheaupyng Lin founded a company named Atieva to build electric vehicle batteries and powertrains for vehicle manufacturers.{{cite news|url= https://techcrunch.com/2019/07/01/ev-startup-lucid-motors-snaps-up-teslas-former-production-executive/ |title=EV startup Lucid Motors snaps up Tesla's former production executive|author=Kirsten Korosec|publisher=Tech Crunch|access-date=7 October 2019}}{{cite web |last1=Wulandari |first1=Fitri |title=Lucid Group shareholders: Who owns the most LCID stock? |url=https://capital.com/lucid-group-shareholder-who-owns-most-lcid-stock |access-date=2 June 2023}} In 2011, Atieva began working with lithium-ion cell maker Lishen to build battery packs for electric buses in China.{{Cite web |title=Can Stealthy Atieva Pivot From Battery Builder to EV Automaker? |url=https://www.greentechmedia.com/articles/read/Can-Atieva-Pivot-From-Battery-Builder-to-EV-Automaker |access-date=2024-06-28 |website=www.greentechmedia.com}} In 2014, Beijing Automotive Industry Holding (BAIC), a state-owned carmaker, acquired a 25 percent stake in Atieva.{{Cite web |date=2014-04-09 |title=Tesla is no 'Apple of the car industry', say Chinese state-owned carmakers |url=https://www.scmp.com/news/china-insider/article/1472145/tesla-no-apple-car-industry-say-chinese-state-owned-carmakers |access-date=2024-06-28 |website=South China Morning Post |language=en}} Atieva received investments from Tsing Capital, Mitsui, Venrock, JAFCO, and others.{{cite web |date=3 November 2016 |title=Preview: Lucid Motors Prototype Sedan |url=http://www.motortrend.com/news/lucid-motors-prototype-sedan/ |access-date=4 November 2016 |work=Motor Trend}}{{cite web |url=http://blog.caranddriver.com/tesla-owners-will-lucid-make-your-next-electric-car/ |title=Tesla Owners, Will Lucid Make Your Next Electric Car? |date=27 October 2016 |first=Bengt |last=Halvorson |publisher=Car and Driver |access-date=8 November 2016 |archive-date=November 9, 2016 |archive-url=https://web.archive.org/web/20161109024317/http://blog.caranddriver.com/tesla-owners-will-lucid-make-your-next-electric-car/ |url-status=dead }}
British engineer and businessman Peter Rawlinson, formerly Vice President of Engineering and Chief Engineer of the Model S at Tesla, Inc., joined Atieva in 2013 as Chief Technology Officer (CTO) and board member.{{Cite web |title=Lucid Motors Appoints Peter Rawlinson as CEO |url=https://lucidmotors.com/media-room/lucid-motors-appoints-peter-rawlinson-ceo |access-date=2024-06-28 |website=Lucid Motors Appoints Peter Rawlinson as CEO |language=en}} Rawlinson and the team rebranded the company Lucid Motors in October 2016{{Cite web |title=Start-up Lucid Motors launches with 300-mile plus premium electric sedan |url=https://www.cnet.com/home/electric-vehicles/start-up-lucid-motors-launches-with-300-mile-plus-premium-electric-sedan/ |access-date=2024-06-28 |website=CNET |date=October 20, 2016 |language=en}} and officially announced the company's intent to develop an all-electric, long-range, high-performance vehicle.
On November 29, 2016, Lucid executives and officials in Arizona 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,{{cite web |url=http://www.fox10phoenix.com/news/arizona-news/220478838-story |title=Electric car factory planned in Arizona to have 2,000 workers |last=FOX |access-date=2016-11-30 |archive-url=https://web.archive.org/web/20170813184922/http://www.fox10phoenix.com/news/arizona-news/220478838-story |archive-date=2017-08-13 |url-status=dead }}{{cite web|url= https://www.forbes.com/sites/alanohnsman/2016/11/29/lucid-motors-has-a-1000hp-tesla-challenger-now-to-find-the-cash-to-build-it/ |title=Lucid Motors Has A 1000HP Tesla Challenger; Now To Find The Cash To Build It|date=29 November 2016|work=Forbes|access-date=30 November 2016}}{{cite web|url= http://www.azcentral.com/story/money/business/economy/2016/11/29/electric-vehicle-company-plans-casa-grande-plant-lucid-motors/94610502/ |title=Tesla rival Lucid Motors plans Casa Grande plant |author=Ronald J. Hansen and Yvonne Wingett Sanchez |date=30 November 2016|work=azcentral, The Republic|access-date=30 November 2016}} initially building 20,000 cars and expanding to 130,000 cars per year. Rawlinson took on the additional role of CEO in April 2019, while keeping his role as CTO and board member. The first vehicles rolled off the assembly line on September 28, 2021.{{cite news |last1=Wiles |first1=Russ |title=First Lucid Group luxury electric cars roll off production line at Casa Grande factory |url=https://www.azcentral.com/story/money/business/consumers/2021/09/29/lucid-group-completes-first-air-dream-edition-cars-arizona-factory/5893593001/ |access-date=30 September 2021 |work=Arizona Republic |date=28 September 2021}}
On September 17, 2018, Lucid Motors announced talks with the Public Investment Fund for $1 billion in funding.{{cite web |url=https://lucidmotors.com/stories/lucid-signs-1bn-investment-agreement-public-investment-fund-saudi-arabia |title=Lucid Signs $1bn+ Investment Agreement with Public Investment Fund of Saudi Arabia |date=17 September 2017 |publisher=Lucid Motors |access-date=20 October 2018}}{{Cite web|url=https://eoto.tech/lucid-motors-funding-saudi-pif/|title=Lucid Motors signs investment agreement with PIF, valued at over a billion dollars|last=Jhaveri|first=Aakash|date=17 September 2018|access-date=20 October 2018|archive-date=September 18, 2018|archive-url=https://web.archive.org/web/20180918012132/https://eoto.tech/lucid-motors-funding-saudi-pif/|url-status=dead}} The investment was completed in April 2019. The investment would fund the final engineering, testing and production of the Lucid Air, the first-phase construction of its manufacturing plant in Arizona, and its worldwide retail strategy, beginning in North America.{{cite news|url= https://techcrunch.com/2019/07/01/ev-startup-lucid-motors-snaps-up-teslas-former-production-executive/ |title=EV startup Lucid Motors snaps up Tesla's former production executive
|author=Kirsten Korosec |publisher=Tech Crunch|access-date=7 October 2019}} Construction of the plant began in late 2019, and the first phase was completed in December 2020.{{cite web |title=Lucid Motors Begins Construction Of Arizona Factory |url=https://cleantechnica.com/2019/12/03/lucid-motors-begins-construction-of-arizona-factory/ |website=CleanTechnica |date=3 December 2019}}{{cite web|url=https://www.theverge.com/2020/12/1/21739985/lucid-motors-ev-factory-construction-arizona|title=Lucid Motors finishes the first phase of its $700 million EV factory in Arizona|work=The Verge|first=Andrew|last=J. Hawkins|date=December 1, 2020|access-date=February 22, 2021}} The second phase of construction began in late 2021 to increase production capacity from 34,000 to 90,000 vehicles a year.{{Cite web |last=Dorman |first=Aaron |date=2021-12-25 |title=Lucid Phase 2 underway, will be much larger than the first |url=https://www.pinalcentral.com/casa_grande_dispatch/area_news/lucid-phase-2-underway-will-be-much-larger-than-the-first/article_2bc8600d-f441-5f32-9799-1f654ab31046.html |access-date=2024-06-28 |website=PinalCentral.com |language=en}} The completed four phases of the factory are intended to have a combined manufacturing capacity of 400,000 cars per year.{{cite web|url=https://www.cnbc.com/2021/02/12/first-look-inside-lucid-motors-new-factory-in-casa-grande-arizona.html|title=First look inside Lucid Motors' new factory in Casa Grande, Arizona|work=CNBC|first=Andrew|last=Evers|date=February 12, 2021|access-date=February 22, 2021}}
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 (SPAC).{{cite web|url=https://www.lucidmotors.com/media-room/lucid-motors-public-merger-churchill-capital-corp-iv/|title=Lucid Motors to Go Public in Merger with Churchill Capital Corp IV, Bolstering Lucid's Vision to Redefine Luxury, Performance and Efficiency in the Sustainable Electric Vehicle Market|work=Lucid Motors|date=February 22, 2021|access-date=February 22, 2021}} Rawlinson announced Lucid's intention to produce its Gravity SUV by 2023, then offer a competitor to Tesla's Model 3 by 2024 or 2025.{{Cite web|title=Lucid Motors CEO aims to launch Tesla Model 3 rival in 2024 or 2025|url=https://www.msn.com/en-gb/money/technology/lucid-motors-ceo-aims-to-launch-tesla-model-3-rival-in-2024-or-2025/ar-BB1dWZ2M|access-date=2021-02-24|website=www.msn.com}}{{Cite web|title=Lucid Aims To Unveil Tesla Model 3 Rival By 2025: CEO|url=https://finance.yahoo.com/news/lucid-aims-unveil-tesla-model-022200451.html|access-date=2021-02-24|website=finance.yahoo.com|date=February 24, 2021 |language=en-US}} On July 26, 2021, the company went public,{{Cite news |last1=Mehta |first1=Chavi |last2=Nishant |first2=Niket |date=July 26, 2021 |title=EV maker Lucid rises in Nasdaq debut after merger with Klein-backed SPAC |url=https://www.reuters.com/business/autos-transportation/ev-maker-lucid-rises-nasdaq-debut-after-merger-with-klein-backed-spac-2021-07-26/ |access-date=June 28, 2024 |work=Reuters}} with the Public Investment Fund owning 60 percent of Lucid.{{Cite news|last=Brown|first=Eliot|date=2021-07-19|title=The $20 Billion Winner of the American EV Startup Boom: Saudi Arabia|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/the-20-billion-winner-of-the-american-ev-startup-boom-saudi-arabia-11626687002|access-date=2021-07-19|issn=0099-9660}} The fund recorded a profit of $20 billion from its $2.9 billion investment.
File:Lucid, GIMS 2024, Le Grand-Saconnex (GIMS0031-3).jpg, 2024]]
Lucid began building its first all-electric Lucid Air sedan in Arizona in September 2021, and deliveries began in late October.{{Cite news|last=Foldy|first=Ben|date=2021-11-01|title=EV Startups Lucid and Rivian Deliver First Models to Customers|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/ev-startups-lucid-and-rivian-deliver-first-models-to-customers-11635759002|access-date=2021-11-01|issn=0099-9660}} Lucid produced 7,180 vehicles in 2022,,{{Cite web |last=Root |first=Al |date=January 12, 2023 |title=Lucid's Production Jumps Over a Lowered Bar. The Stock Is Rising. |url=https://www.barrons.com/articles/tax-filing-season-deadline-extension-child-tax-credit-51674243996 |access-date=2023-01-23 |publisher=Barrons}} lower than expected, with the company citing supply chain issues.{{Cite news |last=Naranan |first=Aparna |date=2022-03-01 |title=Tesla Rival Slashes 2022 Production Outlook; Lucid Stock Tumbles |language=en-US |work=Investor's Business Daily |url=https://www.investors.com/news/lucid-stock-lucid-earnings-q4-2021-lordstown-beats-but-sinks/ |access-date=2022-03-02}}{{Cite web |last=Westbrook |first=Justin |date=2022-03-01 |title=Lucid Air Production Estimates Deflated by Supply Chain Woes |work=MotorTrend |url=https://www.motortrend.com/news/2022-lucid-air-ev-supply-chain-cuts-outlook/ |access-date=2022-03-02 |publisher=Motor Trend |language=en}} Lucid produced 8,428 vehicles in 2023, meeting the higher end of company guidance.{{Cite press release |title=Lucid Announces Fourth Quarter and Full Year 2023 Financial Results |url=https://www.prnewswire.com/news-releases/lucid-announces-fourth-quarter-and-full-year-2023-financial-results-302067988.html |access-date=2024-06-28 |website=www.prnewswire.com |language=en}}
In June 2023, Lucid signed an agreement to develop and supply electric motors, powertrains, and battery systems for Aston Martin's upcoming range of fully electric cars. According to the terms of the $450 million deal,{{Cite web |last=Hawkins |first=Andrew J. |date=2023-06-26 |title=Lucid Motors strikes deal to power Aston Martin's future lineup of EVs |url=https://www.theverge.com/2023/6/26/23773793/lucid-aston-martin-ev-powertrain-supply-deal |access-date=2024-07-03 |website=The Verge |language=en}} Aston Martin said it would pay Lucid $132 million in cash for its expertise; Lucid would be given a 3.7 percent stake in Aston Martin worth $100 million; and Aston Martin guaranteed it would buy at least $225 million in powertrain components.{{cite news |last=Valdes-Dapena |first=Peter |date=June 26, 2023 |title=Aston Martin strikes deal with California-based Lucid to help make EVs |url=https://www.cnn.com/2023/06/26/business/aston-martin-lucid/index.html |website=CNN Business}}{{cite news |last1=Carey |first1=Nick |last2=Koilparambil |first2=Aby Jose |date=June 26, 2023 |title=Aston Martin turns to US EV company Lucid for high-tech help |url=https://www.reuters.com/business/autos-transportation/aston-martin-lucid-enter-into-agreement-make-electric-vehicles-2023-06-26/ |publisher=Reuters}}
On August 7, 2024, Lucid Group announced a further $1.5 billion in funding from its majority shareholder, Ayar Third Investment Co., an affiliate of PIF. The deal includes $750 million in convertible preferred stock and the rest in an unsecured loan.{{cite web |title=Saudi Arabia's PIF invests $1.5 billion in Lucid Group to fuel sustainable transportation |url=https://fastcompanyme.com/news/saudi-arabias-pif-invests-1-5-billion-in-lucid-group-to-fuel-sustainable-transportation/ |website=Fast Company ME |publisher=Mansueto Ventures |access-date=7 August 2024}}
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.{{cite web |url= https://lucidmotors.com/stories/introducing-edna |publisher= Lucid Motors |title= Introducing Edna }}
= Lucid Air =
{{main|Lucid Air}}
File:Lucid showroom, Miami.jpg]]
File:Lucid Drive Unit IAA 2023 1X7A0514.jpg
A prototype of the Lucid Air fully electric car was unveiled in December 2016. Lucid Air production was expected to start in spring 2021.{{Cite web |date=September 9, 2020 |title=Dream Ahead |website=YouTube |url=https://www.youtube.com/watch?v=zgbde-SgWGM|access-date=September 9, 2020}} In November 2020, The Lucid Air Pure was announced with {{cvt|406|mi}} of projected range and {{cvt|480|hp}} and a starting price of US$77,400. The full range of models includes Lucid Air Touring, Grand Touring, and Dream Edition versions. The top-spec cars have an output of over {{convert|1000|hp|abbr=on}}.{{Cite web |last=Baldwin |first= Roberto |date=2020-11-25|title=2022 Lucid Air Pure, Base Model of the New EV, to Start at $77,400| url= https://www.caranddriver.com/news/a34777320/2022-lucid-air-pure-priced/ |access-date=2020-12-25|website=Car and Driver|language=en-US}}
On September 16, 2020, the US Environmental Protection Agency (EPA) rated the range of the Lucid Air to be {{Cvt|520|miles||abbr=}} on a single charge.{{Cite web| last= Wayland |first=Michael|date=2020-08-11| title= Lucid challenges Tesla with a luxury EV sedan that has a record {{cvt|517|mi}} of range per charge| url= https://www.cnbc.com/2020/08/11/lucid-makes-a-run-for-tesla-with-luxury-ev-sedan-with-a-record-517-miles-of-range-per-charge.html|access-date= 2020-08-12|website=CNBC}}{{Cite web| website= fueleconomy.gov |url= https://www.fueleconomy.gov/feg/pdfs/guides/FEG2022.pdf|title=2022 Mod Year Vehicles (Preliminary) }}
Lucid has agreed with Mobileye to use their EyeQ4 chips and eight cameras for driver assist features,{{cite web|url= https://electrek.co/2017/01/02/lucid-motors-autonomous-tech-all-electric-sedan-mobileye/ |title=Lucid Motors' autonomous tech in its all-electric sedan will be powered by Tesla's former partner Mobileye |first=Fred |last= Lambert |date=2 January 2017|work= Electrek.co |access-date=2 January 2017}} and will make the car "autonomous ready".{{cite news| first=Davey G. | last= Johnson|title=Rarefied Air: Lucid's New Car Just Might Be the Real Deal| work=Car and Driver |url= https://www.caranddriver.com/news/a15344399/rarefied-air-lucids-new-car-just-might-be-the-real-deal/|access-date=7 October 2019}} The 4-door sedan is able to reach a software-limited top speed of {{Cvt|217|mph||abbr=}}.{{Cite web|date=2017-07-10| title=Testing Without Limits: Lucid Air Hits 235 mph| url= https://lucidmotors.com/stories/lucid-air-hits-235-mph|access-date=2020-08-19|website= LucidMotors.com| language=en}} In July 2017, while running on the high-speed track at the Transportation Research Center in Ohio, a special version of the car (with the speed limiter disabled via software and other modifications) hit {{Cvt|235|mph}}.
Lucid is collaborating with Amazon to include Amazon's Alexa voice assistant, allowing drivers to use the voice assistant for navigation, phone calls, media streaming, smart home control, and other activities while driving.{{Cite news|last=White|first=Jeremy|date=2020-09-09|title=Lucid Air is a 500-mile range Tesla rival that charges in just minutes|language=en-GB| magazine= Wired UK| url= https://www.wired.co.uk/article/lucid-motors-lucid-air-ev|access-date= 2020-09-15|issn=1357-0978}}
The infotainment system is based on Android Automotive.{{Cite news|last=Korosec|first=Kirsten|date=2021-05-27|title=Lucid Motors reveals all the tech inside its all-electric Air sedan|language=en-US| work= TechCrunch.com |url= https://techcrunch.com/2021/05/26/lucid-motors-reveals-all-the-tech-inside-its-all-electric-air-sedan/|access-date=2021-07-27}}
A Lucid Air is used by the character of Samantha Margolis in several episodes of season four of the Amazon Studios TV series Goliath.{{Cite web |last=Barry |date=2022-07-20 |title=Lucid Air Product Placement In Amazon Video's Goliath Season Four |url=https://www.lucidinsider.com/2022/07/20/lucid-air-product-placement-in-amazon-videos-goliath-season-four/ |access-date=2025-03-08 |website=Lucid Insider Blog - Lucid Air & Lucid Motors News |language=en-US}}
In September 2021, Lucid released the EPA estimated range for both the Dream Edition Air and Air Grand Touring; the Dream Air had a range of 520 miles on a single charge while the Grand Touring offered 516 miles, making the Dream the longest range of any EV rated by the EPA and the Grand Touring the first to top 400 miles in a test drive.{{cite news|url=https://electrek.co/2021/09/16/lucid-shares-epa-range-for-air-models-including-520-miles-on-the-dream-edition-range/|author=Scooter Doll| date=September 16, 2021| title= Lucid shares EPA range for Air models including 520 miles on the Dream Edition Range|work=Electrek}}{{cite news| url= https://www.caranddriver.com/reviews/a40628362/2022-lucid-air-grand-touring-by-the-numbers/| first=Drew | last= Dorian|date=July 18, 2022| title=Tested: 2022 Lucid Air Grand Touring Dazzles with Clever Design and Inspired Engineering|work=Car and Driver}}
Lucid Motors unveiled its 2022 Lucid Air Grand Touring model in November 2021. This version of the Air Grand Touring is powered by two electric motors that have a combined {{cvt|819|hp}} and {{cvt|885|lb.ft}} of torque.{{cite news| url= https://www.motortrend.com/reviews/2022-lucid-air-grand-touring-electric-luxury-car-first-test-review/| first=Christian | last= Seabaugh |date= November 5, 2021|title=2022 Lucid Air Grand Touring First Test: An Impressive Rethink of the Luxury Sedan| work= Motor Trend}}
On May 5, 2022, Lucid announced that it was raising prices of the variants of its luxury Air sedan, beginning June 1, 2022. The price hikes were expected to push the base price of the Air sedan up as much as 13%.{{Cite web |title= Lucid is raising prices on its luxury Air EV |url= https://techcrunch.com/2022/05/05/lucid-is-raising-prices-on-its-luxury-air-ev-by-as-much-as-13/ |access-date=2022-05-06 |website= TechCrunch |date= May 5, 2022 |language=en-US}}
Lucid Air was named Motor Trend’s 2022 Car of the Year, being the first time a brand new car model won the award.{{cite news| url= https://www.motortrend.com/news/lucid-air-2022-car-of-the-year/| first= Frank | last= Markus|date=November 15, 2021|title=The Lucid Air Is the 2022 Motor Trend Car of the Year| work= Motor Trend}}
In April 2023, the company began delivering a blacked-out or dark-trimmed 'Stealth' Air to customers, following its introduction in August.{{Cite web |last=Shakir |first=Umar |date=2023-04-20 |title=Lucid is now delivering its blacked-out "stealth" Air sedans to customers |url=https://www.theverge.com/2023/4/20/23689821/lucid-air-grand-touring-stealth-look-package-delivery-price |access-date=2023-04-21 |website=The Verge |language=en-US}} Also in April 2023, Lucid Air won the 2023 World Luxury Car of the Year award.{{Cite web |title=World Car of the Year Awards name best cars in six categories |url=https://newatlas.com/automotive/2023-world-car-of-the-year-awards/ |access-date=12 September 2023 |website=New Atlas|date=April 6, 2023 }}{{Cite web |title=Lucid Air scoops 2023 World Luxury Car of the Year prize |url=https://www.euronews.com/culture/2023/04/13/lucid-air-scoops-2023-world-luxury-car-of-the-year-prize |access-date=12 September 2023 |website=Euronews|date=April 13, 2023 }}
= Lucid Gravity =
{{Infobox automobile
| name = Lucid Gravity
| image = File:Lucid Gravity, GIMS 2024, Le Grand-Saconnex (GIMS0054-3-RR).jpg
| type = SUV
| powerout = 480–828 hp
| doors = 4
| yearconstruction = 2022—
| production = 2024–present
| model_years = 2025
| related = Lucid Air
| image_size = 550px
| class = SUV
| layout = Dual-motor, all-wheel-drive
| electric_range = Up to {{convert|450|mi|km}}
}}
Lucid teased an electric SUV concept in September 2020 called Project Gravity with only a brief image and short video segment.{{rp|43:38–44:25}} Additional details were found in the patents that Lucid filed for the Gravity. The patents show that the Gravity features sleek headlamps similar to those of the Lucid Air as well as a visibly short hood and a large windscreen. In addition, the patents show that the side of the vehicle has a horizontal beltline as well as a sleek, wide windows, and quarter glass panels.{{Cite web |date=2022-03-30 |title=Everything we know on the Lucid Gravity SUV as of Mar 2022 |url=https://topelectricsuv.com/news/lucid/lucid-gravity-electric-suv-tesla-model-x-rival/ |access-date=2022-04-06 |website=topelectricsuv.com |language=en-US}}
Lucid will use Panasonic batteries in its long-range Lucid Air and its Gravity SUV, which will begin production in 2024, the company said.{{Cite web|url=https://www.reuters.com/technology/panasonic-agrees-supply-ev-batteries-lucid-group-2022-12-13/|title=Panasonic agrees to supply EV batteries to Lucid Group}}
On November 16, 2023, the vehicle was officially unveiled at the 2023 Los Angeles Auto Show, with an anticipated delivery date of late 2024 for the 2025 model year. The SUV will feature a 440 mile range via a dual motor electric powertrain and a 0–60 time of 3.5 seconds, with a starting price of under $80,000.{{Cite web |date=2023-11-16 |title=2025 Lucid Gravity Is a Compelling Family EV with 440-Mile Range |url=https://www.caranddriver.com/news/a45861120/2025-lucid-gravity-revealed/ |access-date=2023-11-17 |website=Car and Driver |language=en-US}}{{update after|2024|11|1}}
In December 2023, electric vehicle charging startup Gravity Inc. filed “petition for cancellation” with the U.S. Patent and Trademark Office over Lucid's use of the word "gravity".{{Cite web |last=Cannon |first=Robin |date=2024-03-12 |title=Lucid Faces Trademark Challenge Over "Gravity" Name for SUV |url=https://evmagz.com/lucid-faces-trademark-challenge-over-gravity-name-for-suv/ |access-date=2024-06-30 |website=EVMagz |language=en-US}} In June 2024, Gravity Inc. and Lucid came to a settlement allowing Lucid the use of the name "gravity."{{Cite press release |title=Lucid Group, Inc and Gravity, Inc. Reach Agreement Regarding Trademark Dispute |url=https://www.prnewswire.com/news-releases/lucid-group-inc-and-gravity-inc-reach-agreement-regarding-trademark-dispute-302186041.html |access-date=2024-07-01 |website=www.prnewswire.com |language=en}}
Lucid opened orders for the Gravity on November 7, 2024,{{Cite web |last=Lekach |first=Sasha |title=Lucid Gravity Is Ready To Order For Just Under $95,000 |url=https://www.forbes.com/sites/sashalekach/2024/11/07/lucid-gravity-is-ready-to-order-for-just-under-95000/ |access-date=2024-11-23 |website=Forbes |language=en}}{{Cite web |date=November 7, 2024 |title=Lucid Gravity Now Available to Configure and Order on the Lucid Motors Website |url=https://ir.lucidmotors.com/news-releases/news-release-details/lucid-gravity-now-available-configure-and-order-lucid-motors}} with the first production unit completing production at Lucid's Casa Grande factory on December 5, 2024.{{Cite news |last=Johnson |first=Peter |date=2024-12-05 |title=Lucid (LCID) just built its first Gravity electric SUV for delivery |url=https://electrek.co/2024/12/05/lucid-lcid-just-built-first-gravity-electric-suv/ |archive-url=http://web.archive.org/web/20241208004616/https://electrek.co/2024/12/05/lucid-lcid-just-built-first-gravity-electric-suv/ |archive-date=2024-12-08 |access-date=2024-12-22 |work=Electrek |language=en-US}}{{clear}}
On January 6, 2025, Lucid Motors announced that the Gravity would use Panasonic Energy’s Latest-Generation High-Performance EV batteries. The Lucid Gravity Grand Touring offers 828 horsepower, can accelerate from 0 to {{convert|60|mph|kph}} in under 3.5 seconds, and has an EPA-rated range of up to {{convert|450|mi|km}}.{{cite web | url=https://lucidmotors.com/media-room/lucid-gravity-leverage-pansonic-ev-batteries | title=The Groundbreaking Lucid Gravity to Leverage Panasonic Energy's Latest-Generation High-Performance EV Batteries }}
=Upcoming midsize SUV=
On an earnings call in May 2024, Lucid CEO Peter Rawlinson announced that the company will build a new midsize SUV at its facility in Saudi Arabia, with a target production start in late 2026 and a starting price of about $48,000.{{cite news |last1=Stafford |first1=Eric |title=Lucid Will Build a New Sub-$50,000 Electric SUV Starting in 2026 |url=https://www.caranddriver.com/news/a60717090/new-lucid-ev-suv-under-50-000-price-confirmed/ |access-date=February 16, 2025 |work=Car and Driver |date=May 9, 2024}} At an investor presentation in September 2024, Lucid Motors shared a teaser image of this SUV. The company has not released the vehicle's name, but trademark filings led journalists to report that the SUV may be called "Earth".{{cite news |last1=Banner |first1=Justin |title=2026 Lucid Earth EV First Look: New American Midsize Electric SUV |url=https://www.motortrend.com/news/2026-lucid-earth-ev-first-look-review-midsize-electric-suv/ |access-date=February 16, 2025 |work=Motor Trend |date=September 11, 2024}}{{cite news |last1=Stafford |first1=Eric |title=Lucid Teases New Sub-$50,000 Mid-Size EV, Possibly Called 'Earth' |url=https://www.caranddriver.com/news/a62138297/lucid-earth-first-teaser-photo/ |access-date=February 16, 2025 |work=Car and Driver |date=September 10, 2024}}
Batteries
File:Lucid Motors, IAA Open Space 2023, Munich (P1120049).jpg
The Lucid Air was planned as of 2020 to debut with a 900V+ electrical architecture, and custom lithium-ion battery cells.{{Cite web|title=Lucid Air to be the Fastest Charging EV, Featuring a 900V+ Architecture Delivering a Charging Rate of Up to 20 Miles Per Minute|url=https://lucidmotors.com/media-room/lucid-air-fastest-charging-ev/|access-date=2020-12-25|website=lucidmotors.com|language=en}} It was planned to use the 2170 standard for the cells,{{cite web|url= https://www.cnet.com/roadshow/news/start-up-lucid-motors-launches-with-300-mile-plus-premium-electric-sedan/ |title=Start-up Lucid Motors launches with 300-mile plus premium electric sedan |first=Wayne |last=Cunningham |date=21 October 2016|publisher=CBS Interactive|work=Roadshow |access-date=8 November 2016}} and, by 2019, supply agreements were signed with both Samsung SDI{{cite web|url= https://www.forbes.com/sites/alanohnsman/2016/12/06/would-be-tesla-rival-lucid-motors-inks-battery-supply-pact-with-samsung-sdi/ |title=Would-Be Tesla Rival Lucid Motors Inks Battery Supply Pact With Samsung SDI|date=6 December 2016|work=Forbes|access-date=7 December 2016}} and LG Chem.{{cite news|url=https://www.motortrend.com/news/lucid-partners-lg-chem-battery-cells/|title=Lucid Partners With LG Chem on Battery Cells|author=Kelly Lin|publisher=Motortrend|access-date=18 October 2019}}{{update after|2024|1|9}}
In February 2020, Lucid Motors announced a partnership with LG Chem through which the latter company would provide battery cells for the Lucid Air sedan through 2023.{{cite web | url=https://marketrealist.com/p/who-makes-lucid-motors-battery | title=The Lucid Air Sedan's Battery Might Have Tesla Worried | date=February 24, 2021 }}
In December 13, 2022 – Panasonic Energy Co., Ltd., and Lucid Group, Inc. announced they have entered into multi-year agreements to supply batteries for Lucid’s award-winning luxury electric vehicle{{cite web | url=https://na.panasonic.com/news/panasonic-energy-and-lucid-group-announce-agreement-to-supply-lithium-ion-batteries-for-lucid-air-luxury-evs | title=Panasonic Energy and Lucid Group Announce Agreement to Supply Lithium-Ion Batteries for Lucid Air Luxury EVs }}{{cite web | url=https://lucidmotors.com/media-room/panasonic-agreement-supply-lithium-ion-batteries | title=Panasonic Energy and Lucid Group Announce Agreement to Supply Lithium-Ion Batteries for Lucid Air Luxury EVs }}
Lucid supplied battery packs for the Gen2 Formula E race cars from the 2018–2019 season{{Cite web|url=https://electrek.co/2018/12/12/formula-e-new-season-improved-gen-2-car/|title=Formula E's new race season starts this weekend, with much-improved Gen 2 car|last=Dow|first=Jameson|date=2018-12-12|website=Electrek|language=en-US|access-date=2019-02-03}} through the 2021–2022 season,{{cite news|url=https://the-race.com/formula-e/us-based-manufacturer-lucid-evaluating-formula-e-entry/|author=Sam Smith|date=June 29, 2021|title=US manufacturer planning new Formula E entry|work=The Race}} in collaboration with McLaren Applied Technologies and Sony.{{Cite web|url=https://apexracingpr.com/2016/10/23/three-way-partnership-for-formula-e-battery-supply/|title=Three-way partnership for Formula E battery supply|last=ApexRacingPR|date=2016-10-23|access-date=2016-12-18|archive-url=https://web.archive.org/web/20170602204628/https://apexracingpr.com/2016/10/23/three-way-partnership-for-formula-e-battery-supply/|archive-date=2017-06-02|url-status=dead}}{{Cite news|url=http://blog.caranddriver.com/lucid-formerly-known-as-atieva-will-be-the-sole-battery-pack-supplier-for-formula-e/|title=Lucid (Formerly Known as Atieva) Will Be the Sole Battery-Pack Supplier for Formula E|access-date=2016-12-18|archive-date=November 9, 2016|archive-url=https://web.archive.org/web/20161109024806/http://blog.caranddriver.com/lucid-formerly-known-as-atieva-will-be-the-sole-battery-pack-supplier-for-formula-e/|url-status=dead}} The Formula E specification{{Cite web|title=Invitation to Tender for Sole Supply Contract|url=http://legal.fia.com/web%255Cappeloffre.nsf/E93EA1FEBD58EBA2C1257F7300593D40/$FILE/2016%252003%252011%2520ITT%2520FE%2520battery%2520system%2520(3).pdf?openelement|url-status=dead|archive-url=https://web.archive.org/web/20160327070044/http://legal.fia.com/web/appeloffre.nsf/E93EA1FEBD58EBA2C1257F7300593D40/$FILE/2016%2003%2011%20ITT%20FE%20battery%20system%20(3).pdf|archive-date=2016-03-27|website=legal.fia.com}} called for a battery weight of {{Cvt|250|kg||abbr=}}, 54 kWh energy, and peak power of up to 250 kW.{{cite web|url=http://blog.caranddriver.com/lucid-formerly-known-as-atieva-will-be-the-sole-battery-pack-supplier-for-formula-e/|title=Lucid Will Be the Sole Battery-Pack Supplier for Formula E Racing|publisher=Car and Driver|access-date=8 November 2016|archive-date=November 9, 2016|archive-url=https://web.archive.org/web/20161109024806/http://blog.caranddriver.com/lucid-formerly-known-as-atieva-will-be-the-sole-battery-pack-supplier-for-formula-e/|url-status=dead}}
=Charging=
Lucid Motors partnered with Electrify America (EA) in 2019 to use their nationwide charging network as an option for recharging Lucid's electric vehicles on the road.{{cite news|url=https://www.thedrive.com/tech/23813/lucid-motors-to-use-electrify-america-charging-network-for-its-air-electric-car|title=Lucid Motors to Use Electrify America Charging Network for Its Air Electric Car|author=Stephen Edelstein|publisher=The Drive|access-date=18 October 2019}}{{cite news|url=https://www.ibtimes.com/tesla-model-s-vs-porsche-taycan-survey-reveals-clear-winner-among-ev-buyers-2822887|title=Tesla Model S vs. Porsche Taycan: Survey Reveals Clear Winner Among EV Buyers|author=Arthur Villasanta|work=International Business Times|access-date=18 October 2019}} The Lucid Air is able to add up to {{Convert|300|mi|km}} in 20 minutes (or 200 miles in 12 minutes) when using the station's 350 kW charging capability, where that capability is available in EA charging stations.{{Cite web|title=Lucid Air gets over 300-kW fast charging, V2G home charging|url=https://www.autoblog.com/2020/08/19/lucid-air-ev-charging-v2g-300kw-900v-electrify-america/|access-date=2020-08-19|website=Autoblog|date=August 19, 2020 |language=en}}
In 2022, Lucid announced their own home charging solution called the Lucid Connected Home Charging Station which would add 80 miles to the battery in just an hour.{{cite news |last1=Atienza |first1=Isaac |title=Lucid's New Home EV Charger Is Nearly Twice As Fast As Tesla's |url=https://www.topspeed.com/lucids-new-home-ev-charger-is-nearly-twice-as-fast-as-teslas/ |agency=TopSpeed |publisher=Valnet, Inc}} After most auto manufacturers serving the North American market adopted the North American Charging System (NACS), in late 2023 Lucid also announced plans to equip their vehicles with the NACS ports in 2025.{{cite news |last1=Ramey |first1=Jay |title=Here's When Lucid Models Will Get Tesla Ports |url=https://www.autoweek.com/news/a45765228/lucid-motors-tesla-nacs-port-compatibility/ |agency=Autoweek |publisher=Hearst Autos}} Lucid announced in 2025 that starting January 31, 2025, the Gravity SUV will be delivered with a NACS port, but that the Air sedan will still require an adapter when it gains access to the Supercharger network in the second quarter of 2025.{{Cite news |date=2025-01-28 |title=Lucid Gravity Gets Standard NACS Charge Port, but the Air Has to Wait |url=https://www.caranddriver.com/news/a63588190/2025-lucid-gravity-tesla-nacs-charging/ |access-date=2025-01-31 |work=Car and Driver |language=en-US}}
Additionally, the Lucid Air's RangeXchange feature enables the Air to directly charge other electric vehicles using Lucid's RangeXchange charging adapter.{{Cite news |date=November 9, 2023 |title=Introducing RangeXchange, an Innovative New Feature Enabling the Lucid Air to Directly Charge Other Electric Vehicles |url=https://ir.lucidmotors.com/news-releases/news-release-details/introducing-rangexchange-innovative-new-feature-enabling-lucid}}
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.{{Cite web|date=2020-12-02|title=Lucid's First Greenfield EV Factory Wraps Construction|url=https://www.hotcars.com/lucids-first-greenfield-ev-factory-wraps-construction/|access-date=2020-12-25|website=HotCars|language=en-US}} On December 1, 2020, Lucid completed factory construction, dubbed AMP-1, and "aims to ramp up to 400,000 electric cars per year."{{Cite web|last=Lambert|first=Fred|date=2020-12-01|title=Lucid completes factory construction, aims to ramp up to 400,000 electric cars per year|url=https://electrek.co/2020/12/01/lucid-completes-electric-vehicle-factory-construction/|access-date=2020-12-25|website=Electrek|language=en-US}}
The US$700 million facility was expected to begin producing the Lucid Air by spring 2021. The initial phase includes an initial {{Convert|999000|sqft}}. Phase 2 of construction was expected to begin in early 2021. The land upon which this facility is built is owned by Pinal County, Arizona, who leases the {{Convert|500|acre|abbr=|adj=on}} plot to Lucid. The land was bought by Pinal County for $29.94 million, which was financed by issuing bonds.{{cite web |last1=Hawkins |first1=Andrew J. |title=Lucid Motors finishes the first phase of its $700 million EV factory in Arizona |url=https://www.theverge.com/2020/12/1/21739985/lucid-motors-ev-factory-construction-arizona |website=The Verge |publisher=Vox Media |ref=The Verge "Lucid Motors finishes the first phase of its $700 million EV factory in Arizona" |language=en |date=1 December 2020}}
On February 28, 2022, Lucid announced a long-term plan to build a new manufacturing plant in Saudi Arabia with the capability of producing 150,000 vehicles per year. Lucid has partnered with the Ministry of Investment of Saudi Arabia (MISA), The Saudi Industrial Development Fund (SIDF), and the King Abdullah Economic City (KAEC).{{Cite web |date=2022-02-28 |title=Electric Vehicle Manufacturer Lucid Group Gearing Up for First International Plant in Saudi Arabia After Signing Agreements with Multiple Agencies |url=https://www.lucidmotors.com/en-ca/media-room/lucid-group-gearing-up-first-international-plant-saudi-arabia |access-date=2022-03-02 |website=Lucid Motors |language=en-ca}}
Saudi Arabia investment
The Saudi Arabian government announced on April 27, 2022, that it plans to buy at least 50,000 and possibly up to 100,000 electric vehicles from Lucid Motors over the course of a decade.{{Cite web |date=2022-04-27 |title=Saudi Arabia agrees to buy up to 100,000 Electric Vehicles from Lucid |url=https://arab.news/rdwuu |access-date=2022-04-27 |website=Arab News |language=en}} The purchase is part of the government's effort to reduce its reliance on oil. The government selected Lucid Motors because the company is building its first international manufacturing plant in Saudi Arabia, with a goal of producing 150,000 cars annually.{{Cite news |last=Kalin |first=Stephen |date=2022-04-27 |title=Saudi Arabia Orders Up to 100,000 Electric Vehicles in Boost to Startup Lucid |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/saudi-arabia-orders-up-to-100-000-electric-vehicles-in-boost-to-startup-lucid-11651052581 |access-date=2022-04-27 |issn=0099-9660}}
Ownership
The 10 largest institutional shareholders of Lucid as of December 2024 were:{{Cite web |title=Lucid Group, Inc. (LCID) Stock Major Holders - Yahoo Finance |url=https://finance.yahoo.com/quote/LCID/holders/ |archive-url=http://web.archive.org/web/20250122200025/https://finance.yahoo.com/quote/LCID/holders/ |archive-date=2025-01-22 |access-date=2025-03-08 |website=Yahoo Finance |language=en-US}}
class="wikitable sortable"
!Shareholder name !Percentage |
Public Investment Fund
|58.42% |
The Vanguard Group
|3.64% |
BlackRock
|1.60% |
D.E. Shaw
|0.81% |
UBS Group
|0.80% |
Morgan Stanley
|0.75% |
Geode Capital Management
|0.67% |
State Street
|0.65% |
Millennium Management
|0.62% |
Renaissance Technologies
|0.55% |
Others
|26.28% |
See also
References
{{Reflist|30em}}
External links
{{Commons category}}
- {{Official|https://www.lucidmotors.com}}
{{Finance links
| name = Lucid Group, Inc.
| symbol = LCID
| reuters = LCID.O
| bloomberg = LCID:US
| sec_cik = 0001811210
| yahoo = LCID
| google = LCID
| nasdaq = LCID
}}
{{Automotive industry in the United States}}
{{authority control}}
Category:2007 establishments in California
Category:Battery electric vehicle manufacturers
Category:Car manufacturers of the United States
Category:Companies based in Newark, California
Category:Electric vehicle manufacturers of the United States
Category:Luxury motor vehicle manufacturers
Category:Manufacturing companies based in the San Francisco Bay Area
Category:Motor vehicle manufacturers based in California
Category:Vehicle manufacturing companies established in 2007
Category:Electric motor manufacturers
Category:Special-purpose acquisition companies
Category:Companies listed on the Nasdaq