Lucid Owners (2024)

FAQs

Who is Lucid Motors owned by? ›

Lucid vehicles are designed in California and manufactured at Lucid's factory in Arizona. The company was founded in 2007. Since April 2019, Lucid has been majority-owned by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia. Lucid Group, Inc.

Largest shareholders include Public Investment Fund, Vanguard Group Inc, BlackRock Inc., VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, NAESX - Vanguard Small-Cap Index Fund Investor Shares, Morgan Stanley, State Street Corp, Geode Capital Management, Llc, VISGX - Vanguard Small-Cap Growth Index Fund ...

Saudi Arabia's sovereign fund has a 60% stake in Lucid Motors, an EV startup.

Lucid raised $3 billion from an offering of common stock and an investment by Saudi Arabia's Public Investment Fund announced in May of last year. The Saudi fund had invested about $5.4 billion into Lucid since 2018, the EV maker said in a fourth-quarter presentation.

Lucid's origin story begins in California, where it was founded in 2007 with the original name Atieva. Since it's neither headquartered in China nor predominantly owned by Chinese organizations, it's clear that Lucid is not a Chinese company. On the other hand, it has significant ties to Saudi Arabia.

There's no question that the Lucid Air Sapphire is a better car than the Tesla Model S Plaid. It's brilliant to drive as a canyon-carving supersports sedan and a cross-country grand tourer. Its exceptional range and fast-charging capability challenge Tesla's reputation as the untouchable EV technology leader.

Lucid completed the previously announced merger with Churchill Capital Corp IV on July 23, 2021. The combined company will now operate as Lucid Group, Inc. Lucid Motors begins trading today as Lucid Group, Inc., under the new ticker symbol “LCID” after completing a merger with Churchill Capital Corp IV.

Lucid Motors has approximately 6K employees as of May 2024. These team members are located across 6 continents, including North AmericaEuropeAsia.

Lucid has struggled since going public as the company has only sold a relatively small number of cars and has put up wide losses every quarter of its history.

What percentage of Lucid do the Saudis own? ›

The Saudi government, which has a 60% stake, has invested billions in Lucid's success as part of a strategy to diversify the Kingdom's economy beyond oil.

Regrettably, speculation the PIF would take the struggling company private has so far come to naught and instead any shareholders who didn't take part in its $3 billion equity raise in June were diluted. The energy transition will be decades in the making and Saudi Arabia is playing a long game.

If things don't turn out as well, Lucid still has the support of Saudi Arabia's Public Investment Fund (PIF) and its subsidiary, Ayar Third Investment. The entities are the largest shareholder of LCID stock with ownership of 1.65 billion shares.

Moreover, the vast majority of buyers interested in EVs have already purchased one. It is into this market that Lucid is trying to push its high-end vehicles. That is a tough sell. It is why Lucid is losing money on every vehicle it sells and relies upon the Saudi government's investment fund for money to stay afloat.

Lucid long term debt for the quarter ending March 31, 2024 was $2.074B, a 0.1% increase year-over-year. Lucid long term debt for 2023 was $2.075B, a 0.07% increase from 2022. Lucid long term debt for 2022 was $2.073B, a 4.03% increase from 2021. Lucid long term debt for 2021 was $1.993B, a INF% increase from 2020.

The price of the 2024 Lucid Motors Air starts at $71,400 and goes up to $250,500 depending on the trim and options. We'd steer toward the Pure model. It offers a respectable 430 horsepower and 410 miles of estimated driving range, yet it costs significantly less than the upper Grand Touring and Sapphire trims.

Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at a pro-forma equity value of $24 billion.

In addition to funding its new Saudi Arabian plant, the Saudi government has agreed to buy 100,000 of Lucid's vehicles over the next decade.

Lucid Motors (LCID) has the potential to follow in Tesla's footsteps as a dominant force in the electric vehicle industry, and several key factors point to this promising trajectory. Lucid Motors aims to seize a substantial share of the booming $800 billion electric vehicle market, despite challenges.