Who Owns Lucid Motors? It’s Not Tesla or the Chinese Government
Lucid Motors made a huge splash in 2022 with its first car, the Air EV, winning MotorTrend’s Car of the Year award. Then, in early 2023, the Air was named the World Luxury Car by the World Car Awards, with reviewers praising the car’s tech, speed, super-fast charging, and an impressive 516-mile range.
However, there seems to be a big mystery about Lucid. One of the most common questions about Lucid is, “Who owns Lucid Motors?”
Is Lucid Motors a Chinese Company?
Despite what the internet might tell you, Lucid Motors is not a Chinese company. Additionally, despite its similarities to Tesla, the two are not related. It has Silicon Valley roots and is based in Newark, California, while its manufacturing plant is in Case Grande, Arizona, which is a Phoenix suburb.
Though all the design, R&D, and manufacturing are done in the U.S., most of the company’s stock is owned by the Public Investment Fund. PIF is a sovereign wealth fund based in Saudi Arabia that also owns significant stakes in Boeing, Uber, and Citigroup.
The company’s CEO is Peter Rawlinson, a former chief engineer at Tesla. According to Zippia, which tracks companies’ employees, it has about 2,000 employees, all in the U.S.
Is Lucid stock a buy or sell?
The easy answer to “Who owns Lucid?” could be “investors.” In 2021, Lucid Group went public through a $4.5 billion reverse merger (through a SPAC) with PIF, and it now trades on the NASDAQ as LCID. So, you could own part of Lucid, too!
We’re not going to give you stock-picking advice here, but the stock has seen its share of ups and downs as the company first started selling truckloads of cars and then struggled with production and delivery delays.
How many cars has Lucid sold (so far)?
Last year was a good year for Lucid, as it finally started sales and production of the Air. In Jan. 2023, it reported producing 7,180 cars, including 3,493 in the fourth quarter of 2022 alone. The company forecasted that it would produce 6,000 to 7,000 cars. Overall, in 2022, it delivered 4,369 vehicles to new owners.
How much do Lucid cars cost?
The Lucid Air and the upcoming Lucid Gravity SUV are luxury vehicles aimed at high-end models from Mercedes like the EQS. So, they’re not cheap … but can be less expensive than a comparable Tesla. The Air sedan starts at $87,400 with a single motor driving the rear wheels. The Touring version starts at $107,400 and includes two motors. The top-dog Sapphire model has 1,200 horsepower, a 2.0-second 0-60 mph time, and a staggering price tag of $249,000.
Additionally, many Lucid Airs qualify for the $7,500 EV tax credit.
Lucid Financial Services will finance your Air
Electric cars aren’t Lucid’s only moneymaker. Like most automakers, Lucid also has a finance arm. The company’s new Lucid Financial Services will finance your car in 24-month, 36-month, or 48-month loans. However, what Lucid Financial will crucially add is a leasing option. Leasing an EV is a great way to drive a state-of-the-art car today and not lose out when the next wave of technology comes along and improves the breed.
