The company is backed by the PIF, Saudi Arabia’s sovereign wealth fund (SWF), and received a $1 billion investment from the SWF in 2018 for a majority stake of the company to get its first electric car model into production.
Who is Lucid Motors owned by?
Lucid CEO Peter Rawlinson said there’s a long runway for the EV start-up’s stock and market cap to surpass traditional automakers and be valued more like industry leader Tesla. Lucid’s market value blew past Ford on Tuesday to $89.9 billion following a 24% runup in the EV start-up’s stock price.
Is Lucid owned by Saudi?
Saudi Arabia has made a fortune on Lucid Motors this year, but it missed out on a second windfall by selling Tesla stock. The country’s Public Investment Fund (PIF) disclosed a $26 billion stake in Lucid in its third-quarter portfolio update on Monday.
Is Lucid Air a Chinese company?
Founded in 2007, Lucid was originally known as Atieva which made batteries for electric buses in China. It has raised more than $100 million from several Asian investors, including Faraday Future founder Jia Yueting and BAIC Motor, according to Yicai Global.
Who is backing Lucid Air?
sovereign-wealth fund
The company, which is backed by Saudi Arabia’s sovereign-wealth fund, is looking to target the high-end market for luxury electric cars—a niche long dominated by Tesla—with the Air, a model that starts at $77,400. The first versions delivered over the weekend cost around $169,000.
Who is the biggest investor in Lucid Motors?
the Saudi fund
As of today, the Saudi fund is the biggest shareholder of Lucid with an ownership stake of 61.7% and is considered to be the company’s major partner and a long-term investor.
Where is Lucid factory?
Casa Grande
Production of the Lucid Air will begin in late 2020 in Lucid’s new factory in Casa Grande, Arizona.
How much does Saudi own in Lucid?
The PIF also owns a 62.72 per cent stake in electric car company Lucid, which has a market value of about US$71 billion, a significant boost in value from the end of September.
Where are Lucid autos made?
Arizona
PHOENIX – MotorTrend’s best car of 2022 is produced right here in Arizona. The Lucid Air, a groundbreaking electric vehicle built in Casa Grande, was named car of the year in the magazine’s prestigious annual awards.
Who is the CEO of Lucid?
CEO Peter Rawlinson
CEO Peter Rawlinson leads the company
At the helm of Lucid is Peter Rawlinson, a former chief engineer of the Model S under Elon Musk, Tesla’s CEO. He left Tesla after three years, feeling frustrated and limited in his work there. Rawlinson, 64, is a mechanical engineer by training.
Is lucid auto publicly traded?
Lucid, which went public via a SPAC deal in July, reported it has lost $1.5 billion through the first nine months of the year. The company on Monday said it has more than 17,000 reservations for its Air sedan, up from 13,000 through the third quarter.
Is Lucid Air publicly traded?
Shares in the electric vehicle startup Lucid Group are tumbling after saying that it had been subpoenaed by regulators, apparently over the process by which it became a publicly-traded company last summer.
Top 10 Owners of Lucid Group Inc
| Stockholder | Stake | Shares owned |
|---|---|---|
| The Vanguard Group, Inc. | 2.14% | 35,220,252 |
| BlackRock Fund Advisors | 0.52% | 8,557,225 |
| Franklin Advisers, Inc. | 0.52% | 8,525,086 |
| Blackstone Alternative Solutions | 0.51% | 8,386,666 |
Who is Sam Weng?
Weng co-founded the company back in 2007 as “Atieva,” with a focus on developing battery systems for electric cars. The company decided to change its name and focus on making an all-electric car in 2016, though it still develops some battery technology under the Atieva brand.
Who is the engineer of Tesla?
Peter Rawlinson
Tesla Motors Announces Senior Engineering and Manufacturing Executives. SAN CARLOS, Calif. –Peter Rawlinson, Vice President and Chief Vehicle Engineer, is responsible for the technical execution and delivery of the Model S, and for leading a world-class vehicle engineering team.
Is Lucid stock like Tesla?
Lucid resembles a smaller version of Tesla, but the stock already trades at about 30 times its goal of generating $2.2 billion in sales in 2022. Tesla currently trades at just 14 times next year’s sales.
How can I buy Lucid stock in India?
Yes, Lucid Group Inc shares can be bought in India by opening an international trading account with Groww.
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