Who owns 60% of Lucid?
Both Lucid and Uber share a powerful common investor, Saudi Arabia’s Public Investment Fund (PIF). The PIF owns ~60% of Lucid and ~3. Uber. To date, the PIF has invested over $8 billion into Lucid, more than Lucid’s current market cap of ~$7. Lucid has a market capitalization of roughly $3. As a result, the company will likely continue to lean heavily on funding from Saudi Arabia’s Public Investment Fund (PIF).On the whole, Lucid is a risky stock because of its immense cash burn and no clear pathway to profitability. However, over the long term, the company still has millionaire-maker potential, as new model releases potentially help it scale up its business model.There are a few key reasons behind company’s valuation slide over the last 12 months of trading. For starters, Lucid’s business has continued to post huge losses. The company has also continued to raise funds by selling new stock to its largest shareholder — Saudi Arabia’s Public Investment Fund (PIF).
Which country owns Lucid?
Lucid Group, Inc. Atieva, Inc. Newark, California, U. S. Since April 2019, the majority shareholder of Lucid has been the Public Investment Fund, which is the sovereign wealth fund of Saudi Arabia. Luxury electric vehicle developer, Lucid Motors is headquartered in California but is majority funded by the Saudi Arabian sovereign wealth fund, Public Investment Fund (PIF).Lucid Group, Inc. American automotive and technology company that manufactures electric vehicles and supplies advanced electric vehicle powertrain systems.