Lucid Motors

Lucid Group, Inc.
Company type	Public
Industry	Automotive, Technology
Founded	2007
Founder	Bernard Tse, Sam Weng, Sheaupyng Lin
Headquarters	Newark, California, United States
Area served	North America
Key people	Peter Rawlinson (CEO and CTO)
Products	Electric vehicles, EV powertrain solutions

Lucid Group, Inc. is a U.S.-based company operating in the automotive and technology sectors, focusing on electric vehicles and cutting-edge EV powertrain solutions. The firm's headquarters are located in Newark, California. Production of its premier model, the Lucid Air sedan, began in September 2021 at the manufacturing facility in Casa Grande, Arizona. Manufacturing of its second vehicle, the Lucid Gravity SUV, started in December 2024. Additionally, Lucid provides powertrain technologies to other car manufacturers, including Aston Martin.

Since April 2019, the largest shareholder has been the Public Investment Fund, Saudi Arabia’s sovereign wealth fund. Other key investors comprise prominent index fund managers such as Vanguard Group, BlackRock, and State Street Corporation.

History

The company originated in 2007 when Bernard Tse, formerly Vice President at Tesla Motors, along with Sam Weng, co-founder of Astoria Networks, and inventor Sheaupyng Lin established Atieva to create electric vehicle batteries and powertrain systems for other manufacturers. By 2011, Atieva had collaborated with lithium-ion cell producer Lishen to manufacture battery packs for electric buses in China. In 2014, Beijing Automotive Industry Holding (BAIC), a state-owned enterprise, acquired a 25% ownership stake in Atieva. Additional investments came from Tsing Capital, Mitsui, Venrock, and JAFCO.

In 2013, British engineer Peter Rawlinson—previously Tesla Model S Chief Engineer—joined Atieva as Chief Technology Officer and board member. Under his guidance, the company rebranded to Lucid Motors in 2016 and unveiled plans to develop a high-performance electric vehicle with extended range capabilities.

In November 2016, Lucid announced plans for a $700 million manufacturing facility in Casa Grande, Arizona, aiming for an initial annual output of 20,000 vehicles with potential growth to 130,000 units. Rawlinson assumed the CEO role in April 2019 while continuing as CTO. The first vehicles were produced starting September 2021.

Lucid obtained a $1 billion investment from Saudi Arabia’s Public Investment Fund (PIF) in 2018, finalized by April 2019. This capital facilitated final engineering efforts on the Lucid Air sedan, construction of the manufacturing plant, and expansion of retail operations beginning in North America. The initial phase of the factory was completed in December 2020; subsequent stages intend to increase production capacity up to 400,000 vehicles per year.

In February 2021, Lucid revealed an $11.75 billion SPAC merger with Churchill Capital Corp IV to become publicly traded. Rawlinson disclosed intentions to launch the Gravity SUV by 2023 and introduce a competitor to the Tesla Model 3 by 2024 or 2025. The company went public on July 26, 2021, with PIF holding a 60% ownership share. Deliveries of the Lucid Air sedan commenced late in 2021; despite supply chain difficulties, production reached 7,180 units in 2022 and increased to 8,428 vehicles in 2023.

In June 2023, Lucid entered into a $450 million agreement to supply electric motors, powertrain components, and batteries for Aston Martin’s forthcoming electric vehicle lineup. This contract includes a $132 million cash payment to Lucid, a 3.7% equity stake valued at $100 million for Lucid within Aston Martin, plus a minimum parts purchase commitment worth $225 million.

On August 7, 2024, Lucid secured an additional $1.5 billion financing round led by Ayar Third Investment Co., an affiliate of PIF; this funding combines convertible preferred stock issuance with unsecured loans.

A partnership announced on July 18, 2025 with Uber Technologies and Nuro will deploy no fewer than 20,000 Lucid Gravity SUVs equipped with Nuro’s Level 4 autonomous driving technology on Uber’s platform starting in 2026. Uber is contributing $300 million toward this initiative.

Vehicles

Lucid began its journey concentrating on battery innovations before creating its inaugural vehicle in 2014, utilizing a Mercedes Metris van, dubbed "Edna," to refine its powertrain technology.

Lucid Air

The prototype of the Lucid Air was introduced in December 2016, with manufacturing commencing in early 2021. The model range features the Air Pure, Touring, Grand Touring, and Dream Edition variants. The Air Pure is designed to achieve an estimated range of 406 miles, generate 480 horsepower, and has a starting price of $77,400. Higher-end versions deliver power outputs exceeding 1000 horsepower.

In September 2020, the EPA certified the Lucid Air's driving range at up to 520 miles per charge, establishing it as a frontrunner in electric vehicle endurance. The Dream Edition and Grand Touring trims provide EPA-rated ranges of 520 and 516 miles respectively, with the Grand Touring being the first electric vehicle to surpass 400 miles on an EPA test cycle.

To enable sophisticated driver assistance and autonomous capabilities, Lucid collaborated with Mobileye, integrating EyeQ4 processors and eight cameras. The sedan's electronically limited top speed is set at 217 mph; however, a modified prototype achieved 235 mph during trials at Ohio’s Transportation Research Center.

The vehicle's infotainment system operates on Android Automotive and incorporates Amazon Alexa for enhanced voice-activated control over navigation, phone calls, media playback, and smart home connectivity.

In November 2021, Lucid revealed the 2022 Air Grand Touring variant equipped with dual electric motors producing a combined output of 819 horsepower and 885 lb-ft of torque. By May 2022, the company announced price adjustments increasing costs by up to 13% for all Air models effective June 1.

The Lucid Air was honored as Motor Trend's Car of the Year for 2022, marking the first occasion this accolade was awarded to a newly launched model.

In April 2023, Lucid began delivering the blacked-out 'Stealth' edition of the Air and secured the World Luxury Car of the Year title.

Lucid Gravity

In September 2020, Lucid provided a preview of its electric SUV concept named Project Gravity. Patent filings disclosed design elements such as slim headlamps reminiscent of those on the Lucid Air, a compact hood, expansive windshield, horizontal beltline, and large window surfaces.

Lucid confirmed that Panasonic would supply batteries for both the Lucid Air and the upcoming Gravity SUV, with production slated to start in 2024.

The Gravity was officially unveiled at the 2023 Los Angeles Auto Show on November 16. Deliveries are anticipated to begin late in 2024 for the 2025 model year. This SUV features a dual-motor configuration offering up to a 440-mile driving range and accelerates from zero to sixty miles per hour in approximately 3.5 seconds. Pricing starts below $80,000.

In December 2023, an electric vehicle charging company named Gravity Inc. initiated a trademark dispute over Lucid’s use of the "Gravity" name. A resolution reached in June 2024 permitted Lucid to maintain rights to the name.

Ordering for the Gravity opened on November 7, 2024, with initial production completed at Lucid's Casa Grande facility on December 5, 2024.

On January 6, 2025, Lucid announced that the Gravity would employ Panasonic Energy’s latest-generation high-performance EV batteries. The Grand Touring version delivers an output of 828 horsepower, accelerates from zero to sixty in under 3.5 seconds, and offers an EPA-estimated range up to .

Upcoming Midsize SUV

In May 2024, Lucid’s CEO Peter Rawlinson revealed intentions to manufacture a new midsize SUV at the Saudi Arabian facility, aiming for production commencement by late 2026 with an estimated entry price around $48,000. During an investor briefing in September 2024, Lucid presented a teaser image of the vehicle; trademark records indicate the SUV might carry the name "Earth."

Batteries

The Lucid Air is equipped with a high-voltage electrical system exceeding 900 volts, utilizing bespoke lithium-ion battery cells. Originally, the plan was to incorporate standard 2170 cells; however, by 2019, Lucid had established supply contracts with Samsung SDI and LG Chem. In February 2020, LG Chem was confirmed as the exclusive battery cell supplier through 2023.

On December 13, 2022, Lucid Group, Inc. and Panasonic Energy Co., Ltd. entered into multi-year agreements to provide lithium-ion batteries for Lucid’s premium electric vehicles.

From the 2018–2019 to the 2021–2022 Formula E seasons, Lucid supplied battery packs for Gen2 race cars in collaboration with McLaren Applied Technologies and Sony. These batteries adhered to Formula E specifications requiring a 250 kg pack with a 54 kWh energy capacity and peak power output up to 250 kW.

Charging

In 2019, Lucid Motors formed a partnership with Electrify America (EA) to utilize their extensive charging infrastructure for Lucid vehicles. The Lucid Air is capable of adding up to in just 20 minutes (equivalent to approximately 200 miles in 12 minutes) when connected to EA’s 350 kW fast chargers where accessible.

Lucid introduced the Lucid Connected Home Charging Station in 2022, which provides an additional 80 miles of driving range per hour of charging. Reflecting industry trends toward the North American Charging System (NACS), Lucid announced late in 2023 that its models will be equipped with NACS ports by 2025. Beginning January 31, 2025, the Gravity SUV will come standard with a NACS port, while the Air sedan will require an adapter to connect to Tesla’s Supercharger network later that year.

The RangeXchange feature from Lucid enables the Air model to charge other electric vehicles directly through a proprietary adapter, increasing its versatility in charging options.

On July 8, 2025, Lucid set a Guinness World Record for electric vehicle driving range by surpassing 1,200 kilometers on a single charge with the Lucid Air Grand Touring, highlighting the company’s innovation and leadership within electric mobility.

Manufacturing Facilities

In December 2019, construction commenced on Lucid’s inaugural greenfield EV manufacturing plant in the United States, situated in Casa Grande, Arizona. The $700 million facility, known as AMP-1, was finalized by December 2020 with intentions to scale production capacity up to 400,000 electric vehicles annually. The initial development phase spans roughly , while Phase 2 was planned to begin early in 2021. The site encompasses 500 acres leased from Pinal County, which financed land acquisition via bonds.

On February 28, 2022, Lucid announced its plans for an additional manufacturing facility in Saudi Arabia designed to produce up to 150,000 vehicles per year. This expansion represents a strategic alliance involving the Ministry of Investment, SIDF, and King Abdullah Economic City (KAEC).

Saudi Arabia investment

On April 27, 2022, the Saudi government entered into a commitment to acquire between 50,000 and 100,000 electric vehicles from Lucid over a decade. This initiative forms part of Saudi Arabia’s broader plan to reduce reliance on oil revenues. The deal not only facilitates Lucid’s global manufacturing growth but also bolsters its presence in the Middle Eastern market.

Ownership

By December 2024, the largest institutional shareholder in Lucid was the Public Investment Fund, which possessed a majority stake of 58.42%. Other notable investors included The Vanguard Group with 3.64%, BlackRock at 1.60%, along with financial entities such as D.E. Shaw, UBS Group, and Morgan Stanley, each holding less than 1%. Together, the top ten shareholders controlled roughly 73.72% of the company’s shares, with the balance distributed among various other investors.

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