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Lucid Group, Inc. (NASDAQ: LCID) is a dynamic technology and automotive company that is revolutionizing the electric vehicle (EV) market. Lucid is celebrated for its luxury electric vehicles and cutting-edge EV technologies, with a mission to inspire the adoption of sustainable energy. Headquartered in Newark, California, the company is known for its commitment to sustainability, advanced technology, and exceptional design.
Lucid's flagship product, the Lucid Air, is a luxury sedan that has garnered significant acclaim for its sleek design, impressive range, and high performance. The Lucid Air Grand Touring, for instance, boasts an EPA-estimated range of 516 miles, the longest of any EV on the market. The Air lineup also includes models like the Air Pure, Air Touring, and the high-performance Air Sapphire, each offering a unique blend of luxury, range, and power.
In November 2023, Lucid unveiled the Lucid Gravity, a groundbreaking luxury electric SUV. Designed to offer unparalleled space, performance, and efficiency, the Gravity SUV is expected to redefine the standards for electric SUVs. With a projected driving range exceeding 440 miles and seating for up to seven adults, the Gravity SUV showcases Lucid's innovative EV powertrain technology and holistic approach to vehicle engineering.
Lucid's commitment to innovation extends beyond vehicle design. The company's proprietary Clearview Cockpit user interface and Lucid Pilot Panel are designed to provide an intuitive and seamless driving experience. The Gravity SUV, for example, features a 34-inch curved OLED display and advanced software with over-the-air updates, ensuring continuous vehicle improvement.
Financially, Lucid has shown resilience and growth. The company reported a revenue of $172.7 million for the first quarter of 2024 and expects to manufacture approximately 9,000 vehicles in the same year. Lucid also raised $1.0 billion in financing through a private placement to an affiliate of the Public Investment Fund (PIF), underscoring strong investor confidence in the company's future.
Lucid is also focused on expanding its global footprint. With manufacturing facilities in Casa Grande, Arizona, and King Abdullah Economic City in Saudi Arabia, the company is well-positioned to meet growing demand for its vehicles in the U.S., Canada, Europe, and the Middle East.
The company's leadership team, led by CEO and CTO Peter Rawlinson, is dedicated to pushing the boundaries of EV technology. With a strategic focus on innovation, cost optimization, and sustainable growth, Lucid is poised to continue leading the luxury EV market.
For more information, visit Lucid Motors.
Lucid Motors has announced the availability of its Lucid Gravity SUV for Canadian customers, with the Grand Touring model starting at $134,500 CDN and the Touring version at $113,500 CDN. The Grand Touring model features dual electric motors delivering 828 horsepower and over 720km of projected range.
The vehicle offers seating for up to seven adults and nearly 3,400 litres of cargo space. Notable features include NACS charging compatibility with Tesla's Supercharger network and 400 kW fast charging capability. The Grand Touring model can charge at up to 400 kW on 1000V equipment and 225 kW on 500V architecture, adding approximately 200 miles in under 12 minutes.
The Gravity comes with six exterior color options, wheel sizes from 20 to 23 inches, and five interior themes. Standard features include two-row seating, with an optional third row available. The Comfort & Convenience Package, standard in Canada, includes auto-cinching soft-close doors, heated features, and active cabin air filtration.
Lucid Group (NASDAQ: LCID) has announced the promotion of Emad Dlala to Senior Vice President of Powertrain, effective immediately. In his expanded role, Dlala will continue overseeing powertrain development and engineering, including drive units, power electronics, batteries, and Lucid's efficiency and charging strategy.
Dlala, who has been with Lucid since 2015, has played a important role in developing breakthrough technologies for the Lucid Air and Gravity models. He brings over 20 years of engineering experience, previously serving as Senior Application Engineer at ANSYS Inc. He holds a PhD and M.Sc. in Electrical Engineering from Aalto University, Finland, and a B.Sc. from Al-Zawiya University, Libya.
Lucid Group (NASDAQ: LCID) has announced the appointment of Taoufiq Boussaid as Chief Financial Officer, effective February 25, 2025. Current Interim CFO Gagan Dhingra will be promoted to Senior Vice President, Finance and Accounting, maintaining his role as Chief Accounting Officer and reporting to Boussaid.
Boussaid, 53, brings significant public company finance experience, most recently serving as Group CFO of N.V. Bekaert S.A. from July 2019 to October 2024. His previous roles include leadership positions at Bombardier Transportation and United Technologies CEO Peter Rawlinson highlighted that Boussaid's appointment comes at a important time as the company ramps up production of the Lucid Gravity SUV and prepares for the launch of its midsize vehicles.
Lucid Group (NASDAQ: LCID) has revealed details about its Lucid Gravity SUV's powertrain and charging capabilities. The vehicle features a 450-mile EPA range and 400 kW fast charging capability. Starting January 31st, 2025, Gravity will have access to Tesla's Supercharger network across the US and Canada without requiring an adapter.
The SUV employs a 926V powertrain platform with a 123 kWh battery and features innovative charging technology that enables charging speeds up to 400 kW, adding 200 miles in under 12 minutes. The vehicle includes bi-directional charging supporting up to 80 A at 19.2 kW and features RangeXchange capability for charging other EVs.
Lucid Gravity, which began deliveries in December 2024, will be available in two models: the Touring model starting at $79,900 (late 2025) and the Grand Touring from $94,900. The company also announced plans to extend Tesla Supercharger network access to Lucid Air in Q2 2025.
Lucid Group (NASDAQ: LCID) has announced Canadian pricing for its new Lucid Gravity SUV. The Touring model will start at $113,500 CDN, while the Grand Touring model will be priced from $134,500 CDN. The Grand Touring version offers 828 horsepower and a projected range exceeding 720 kilometers.
The vehicle features nearly 3,400 litres of total cargo space, including a frunk with an optional seat for two adults when parked. Powered by in-house electric motors and a 123kWh battery pack, the Gravity accommodates up to seven adults. Orders for the Grand Touring model will open soon, with the Touring model becoming available in late 2025. The vehicle includes an optional three-chamber air suspension system for adaptive handling across different terrains.
Lucid Group (NASDAQ: LCID) and Panasonic Energy announced that the new Lucid Gravity SUV will be powered by Panasonic's latest-generation lithium-ion EV battery cells. The Gravity Grand Touring model features an EPA-estimated range of 450 miles with a battery pack 40% smaller than competitors, offering 828 horsepower and 0-60 acceleration in under 3.5 seconds.
The vehicle utilizes Panasonic's 2170 cylindrical cells with an industry-leading energy density above 800Wh/L. The Gravity Grand Touring, starting at $94,900, began production in December 2024, while the Touring model, priced at $79,900, is planned for late 2025. The SUV provides up to 120 cubic feet of cargo space and can accommodate seven adults.
Panasonic Energy has supplied approximately 15 billion lithium-ion EV batteries globally by December 2023, powering 3 million EVs without any battery-related recalls.
Lucid Group (NASDAQ: LCID) has released its Q4 2024 production and delivery figures. The company produced 3,386 vehicles and delivered 3,099 vehicles in Q4, with approximately 7% subject to operating lease accounting. For the full year 2024, Lucid produced 9,029 vehicles and delivered 10,241 vehicles, with about 5% under operating lease accounting.
The company will discuss its Q4 2024 financial results in a conference call scheduled for February 25, 2025, at 2:30 pm PT. Lucid is partnering with Say Technologies to facilitate shareholder engagement, allowing investors to submit and upvote questions between February 11 and February 23, 2025, which management will address during the earnings call.
Lucid Group (NASDAQ: LCID), an electric vehicle manufacturer, has announced its participation in the Nasdaq 51st Investor Conference in London. The company will engage in a fireside chat session on Wednesday, December 11, 2024, at 7:00 am PT / 3:00 pm GMT.
The event, organized in collaboration with Morgan Stanley, will be accessible through a live webcast on Lucid's investor relations website. Investors and interested parties can access the replay of the presentation for 90 days after the live event through the company's IR website at ir.lucidmotors.com.
Lucid Group (NASDAQ: LCID) announced its Q3 2024 financial results, reporting revenue of $200.0 million from the delivery of 2,781 vehicles, a 90.9% increase over Q3 2023. The company produced 1,805 vehicles in Q3 and is on track to manufacture approximately 9,000 vehicles in 2024. Lucid ended the quarter with $5.16 billion in total liquidity and completed a capital raise of approximately $1.75 billion in October 2024. GAAP net loss per share was $(0.41), while non-GAAP net loss per share was $(0.28). CEO Peter Rawlinson highlighted their third consecutive quarter of record deliveries and the opening of the order book for the Lucid Gravity SUV, which is set to begin production this year. Interim CFO Gagan Dhingra noted improved gross margin performance and cost reduction efforts.
Lucid Motors has launched configurations and orders for its new Lucid Gravity SUV. The Grand Touring model starts at $94,900 with production scheduled for late 2024, while the Touring version will start at $79,900 with production in late 2025. The Grand Touring features dual electric motors delivering 828 horsepower and over 440 miles of projected range. The vehicle offers seating for up to seven adults and up to 120 cubic feet of cargo capacity. Available with multiple customization options including six exterior colors, various wheel designs, and five interior themes, the Gravity comes with three levels of DreamDrive™ advanced driver assistance system and optional packages for enhanced handling, technology, and towing capability up to 6,000 pounds.
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