Who makes the Lucid car?
Lucid Motors makes Lucid electric cars. Lucid began as Atieva in 2007, building electric vehicle batteries and powertrains. However, the company decided to make its own vehicles, rebranding itself as Lucid Motors in 2016. Who owns Lucid? In 2018, Lucid received a $1 Billion investment from the Public Investment Fund (PIF) of Saudi Arabia, one of the largest sovereign wealth funds in the world. Ayar Third Investment Company, an affiliate of the Public Investment Fund, is the majority stockholder in Lucid.Ayar), an affiliate of the Public Investment Fund (PIF), signed an agreement to buy an additional stake in Lucid for $1 billion (SAR 3. Lucid said in a statement.Lucid Group, Inc. American automotive and technology company that manufactures electric vehicles and supplies advanced electric vehicle powertrain systems.Lucid Motors is majority-owned by Saudi Arabia’s Public Investment Fund (PIF), which holds over 60% of the company as of 2025. This strategic partnership has enabled Lucid to secure billions in funding, fueling its global expansion and R&D efforts.Lucid launched its Gravity SUV last year, which helped boost vehicle production and delivery numbers. The business continued to post huge losses. The company’s reverse stock split and new stock sales also pushed Lucid’s share price lower.
Who owns Lucid Saudi Arabia?
Lucid opened its first Saudi facility (in 2023), which has so far been used to assemble vehicles that were partly manufactured in the United States. Saudi Arabia’s Public Investment Fund (“PIF”) remains Lucid’s largest shareholder, holding more than 50% of the company. Present and Future Cars of Lucid Motors Lucid Group, Inc. American automotive and technology company that manufactures electric vehicles and supplies advanced electric vehicle powertrain systems. The company is headquartered in Newark, California.Lucid will sell vehicles directly to customers over the internet and at Lucid Studios in states in which Lucid is licensed to conduct sales. Lucid also provides service directly to its customers through Lucid Service Centers and mobile service operations.Lucid Motors has secured an additional $1. Saudi Arabia, as announced alongside the company’s Q2 2024 financial results. This injection of funds aims to boost the production of Lucid’s new electric vehicle (EV), the Gravity.
How much did Saudi invest in Lucid?
Lucid Gets $1. Billion from Saudi: Could This Be A New Era for Electric SUV? Lucid Motors has secured an additional $1. Saudi Arabia, as announced alongside the company’s Q2 2024 financial results. Lucid Group, Inc. American automotive and technology company that manufactures electric vehicles and supplies advanced electric vehicle powertrain systems.Key Points. Lucid is using a growth strategy that is similar to the one Tesla succeeded with. The company aims to reach profitability on vehicle sales through improved manufacturing economics. It faces some big challenges, and its odds of posting Tesla-like returns are a long shot.