Lucid Motors

Who owns Lucid Motors?
Saudi Arabia's Public Investment Fund (PIF) is Lucid's majority shareholder, holding approximately 60% of the company's shares. PIF has invested approximately $4.5 billion in Lucid since 2018. Lucid is publicly traded on NASDAQ under ticker LCID, with the remaining shares held by public investors.

What vehicles does Lucid make?
Lucid makes the Lucid Air, a full-size luxury electric sedan available in Pure, Touring, Grand Touring, and Sapphire variants, and the Lucid Gravity, a full-size luxury electric SUV with seating for up to seven passengers. The Lucid Air holds the record for the longest range of any production electric vehicle.

Who founded Lucid Motors?
Lucid Motors was founded in 2007 as Atieva by Bernard Tse (a former Tesla vice president) and Sam Weng. The company rebranded as Lucid Motors in 2016 and hired Peter Rawlinson, former chief engineer of the Tesla Model S, as CTO and later CEO.

Where is Lucid Motors headquartered?
Lucid Motors is headquartered in Newark, California, USA. The company's primary manufacturing facility is in Casa Grande, Arizona. Lucid is also building a manufacturing facility in King Abdullah Economic City, Saudi Arabia.

Is Lucid Motors profitable?
As of early 2026, Lucid Motors is not yet profitable. The company has reported significant operating losses as it scales production. Lucid's path to profitability depends on increasing production volumes and reducing manufacturing costs per vehicle.

What is Lucid's range record?
The Lucid Air Grand Touring achieves an EPA-estimated range of 516 miles on a single charge, the longest range of any production electric vehicle. Lucid's exceptional range is attributed to its proprietary electric drivetrain technology, which is among the most energy-efficient in the industry.

Lucid Motors was founded in 2007 in Menlo Park, California as Atieva, a battery technology company focused on developing advanced battery systems for electric vehicles. The company's founders included Bernard Tse, a former Tesla vice president, and Sam Weng.

Atieva pivoted to developing complete electric vehicles in the mid-2010s, rebranding as Lucid Motors in 2016. The company hired Peter Rawlinson, the former chief engineer of the Tesla Model S, as Chief Technology Officer and later CEO, providing significant credibility in the electric vehicle industry.

Lucid unveiled the Lucid Air concept in 2016 and began taking reservations for the production vehicle. The company secured a landmark investment from Saudi Arabia's Public Investment Fund in 2018, receiving approximately $1 billion in initial funding. PIF's investment was motivated by Saudi Arabia's Vision 2030 strategy to diversify the economy and develop new industries.

Lucid went public in July 2021 through a merger with Churchill Capital Corp IV, a special purpose acquisition company (SPAC), at a valuation of approximately $24 billion. The SPAC merger provided Lucid with approximately $4.4 billion in capital to fund vehicle production and expansion.

Lucid began deliveries of the Lucid Air Dream Edition in October 2021, becoming the first production electric vehicle to exceed 500 miles of EPA-estimated range. The company subsequently launched additional Air variants at lower price points to expand its addressable market.

Lucid announced plans to build a manufacturing facility in Saudi Arabia in 2022, supported by a commitment from the Saudi government to purchase up to 100,000 vehicles over 10 years. The Saudi facility, located in King Abdullah Economic City, began construction and is intended to serve Middle Eastern and European markets.

For full-year 2024, Lucid reported revenue of approximately $807 million and produced approximately 9,000 vehicles. The company has been working to scale production and reduce manufacturing costs to improve its path to profitability.

Peter Rawlinson stepped down as CEO in February 2024, transitioning to a Chief Technology Officer role. Marc Winterhoff was appointed interim CEO.

Lucid has faced scrutiny regarding its production ramp and financial performance. The company has consistently produced fewer vehicles than initially projected and has reported significant operating losses as it scales production. Investors have questioned whether Lucid can achieve the production volumes needed to reach profitability.

The company's majority ownership by Saudi Arabia's Public Investment Fund has also generated discussion, with some observers noting the geopolitical implications of a Saudi-controlled company competing in the US automotive market.

Peter Rawlinson's departure as CEO in February 2024 generated uncertainty about the company's leadership and strategic direction.