Lucid
Compare Lucid…Lucid Group, Inc. designs, engineers, and builds electric vehicles, EV powertrains, and battery systems.
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LucidLucid Group, Inc. designs, engineers, and builds electric vehicles, EV powertrains, and battery systems.
Countries and regions where Lucid Motors passenger cars are sold
Builds luxury performance EVs anchored by the Lucid Air sedan, which holds the longest EPA-rated range of any EV at 516 miles. Delivered ~10K vehicles in 2024 with the Gravity SUV launching to broaden its lineup into the premium SUV segment. Backed by Saudi Arabia's PIF with $4B+ in funding, targeting production scale-up at its Arizona factory while expanding into international markets.
Key Milestones
Founded as Atieva by Bernard Tse and Sam Weng to build EV powertrains, before pivoting to passenger vehicles. Renamed Lucid Motors in 2016 under CEO Peter Rawlinson, former Tesla Model S chief engineer.
Saudi Arabia's Public Investment Fund (PIF) becomes majority shareholder with $1B+ investment — reshaping Lucid's capital structure and providing the financial cushion needed to bring Lucid Air to production.
Goes public via SPAC merger with Churchill Capital IV at $24B valuation — proceeds fund the Casa Grande plant ramp and AMP-2 in Saudi Arabia.
Lucid Air production begins at Casa Grande, Arizona — the sedan debuts with EPA-rated 520-mile range, then a record, validating Lucid's claim of best-in-class powertrain efficiency.
First Lucid Air Dream Edition customer deliveries at California event — limited 520-unit run helps Lucid establish premium positioning above $169K.
Saudi government commits to buying up to 100,000 Lucid EVs over 10 years — anchoring future Saudi production and providing Lucid with rare government-volume backstop in EV-startup history.
Opens AMP-2 plant in King Abdullah Economic City — Saudi Arabia's first-ever auto manufacturing facility and a cornerstone of Saudi Vision 2030 industrial-diversification strategy.
PIF commits another $1.5B to Lucid in additional capital injection — bringing total Saudi investment past $9B and signaling the Kingdom's continued long-term EV-bet on Lucid.
Opens Gravity SUV orders; first production Gravity completed at Casa Grande on Dec 5 — Lucid's volume model with three-row seating and sub-$95K starting price.
Lucid CEO Peter Rawlinson resigns; PIF-aligned interim leadership takes over — strategic reset emphasizing cost discipline and focus on Gravity ramp over R&D moonshots.
Ships second batch of Gravity SUVs to Saudi Arabia for AMP-2 final assembly — beginning Saudi-built EV exports and operationalizing the AMP-2 facility.
Targets 20,000 vehicle production for 2025 (vs 9,029 in 2024); Gravity SUV becomes the volume driver. First U.S. EV-maker after Tesla and Rivian to cross 20K annual production.
