Lucid Group Inc Stock Price, News & Analysis

Lucid Group (NASDAQ: LCID) has secured a significant financial commitment from its majority stockholder, Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF). The commitment consists of two parts: a $750 million convertible preferred stock purchase via private placement and a $750 million unsecured delayed draw term loan facility.

The convertible preferred stock sale will be conducted in reliance on the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933. Lucid plans to use the proceeds from both the private placement and any future borrowings under the term loan facility for general corporate purposes, including capital expenditures and working capital. This substantial financial backing demonstrates continued support from Lucid's major investor and provides the company with additional liquidity to fund its operations and growth initiatives.

Graphite One (TSXV: GPH) (OTCQX: GPHOF) announced a non-binding supply agreement with Lucid (NASDAQ: LCID) for anode active materials (AAM) at a U.S. Capitol briefing. This agreement marks the first step in creating a 100% U.S.-based supply chain linking Alaska, Ohio, and Arizona. The partnership aims to develop domestic graphite resources, reducing dependence on foreign supplies.

Key points:

• Graphite One plans to develop the largest graphite deposit in the U.S.
• The project includes a manufacturing plant in Warren, Ohio
• A recycling facility is planned to reclaim graphite and other battery materials
• The agreement received support from Senators, Representatives, and Alaska's Governor
• Bering Straits Native , an investor in Graphite One, praised the partnership

Graphite One (TSXV: GPH) and Lucid (NASDAQ: LCID) have entered into a non-binding supply agreement for anode active materials (AAM). This marks the first synthetic graphite agreement between a U.S. graphite developer and a U.S. EV company. The agreement involves 5,000 tonnes per annum of synthetic graphite for an initial 5-year term, subject to Graphite One commencing production.

Graphite One plans to develop a complete U.S.-based advanced graphite supply chain, including an AAM facility in Warren, Ohio. The company aims to produce 25,000 tonnes per year in Phase 1, with potential to scale up to 100,000 tonnes per year. This agreement aligns with Graphite One's goal to address the United States' 100% import dependence on synthetic and natural graphite.

Lucid Group (NASDAQ: LCID) has announced groundbreaking updates for its 2025 Lucid Air lineup, setting new standards in electric vehicle efficiency. The 2025 Lucid Air Pure achieves a landmark 5.0 miles/kWh and a record 146 MPGe EPA rating, making it the most efficient vehicle ever made. With an EPA-estimated range of 420 miles from an 84 kWh battery pack, it's priced from $69,900.

Key improvements across the lineup include:

• Standard heat pump for improved real-world range
• New infotainment processor with triple the processing power
• DreamDrive Premium ADAS as standard
• Enhanced SurrealSound Pro system for Grand Touring models

The 2025 lineup includes the Grand Touring (512 miles range, from $110,900), Touring (406 miles range, from $78,900), and Pure models, all available to order now.

Lucid Group (NASDAQ: LCID) announced its Q2 2024 production and delivery figures. The company produced 2,110 vehicles and delivered 2,394 during the quarter ending June 30, 2024.

Lucid will discuss its Q2 2024 financial results in a conference call on August 5, 2024, at 2:30 pm PT / 5:30 pm ET. An earnings press release and webcast link will be available on the company's investor relations website prior to the call.

To enhance shareholder engagement, Lucid is partnering with Say Technologies, allowing shareholders to submit and upvote questions from July 22 to August 2, 2024. Selected questions will be addressed during the earnings call.

The Q&A platform can be accessed via Say Technologies' portal, and support inquiries can be directed to support@saytechnologies.com.

Lucid Group (NASDAQ: LCID) has reached an agreement with Gravity, Inc. regarding the use of the 'Lucid Gravity' trademark. The deal allows Lucid to use the 'Lucid Gravity' brand without infringing on Gravity's pre-existing trademark, thereby avoiding a potential dispute. This agreement is seen as a positive step for both companies, with Lucid looking forward to launching its all-electric SUV, the Lucid Gravity, and Gravity emphasizing its role in supporting the industry's growth with high-speed EV charging equipment.

Lucid Group (NASDAQ: LCID), renowned for its cutting-edge electric vehicles, has appointed Nick Twork as Head of Global Communications. Twork will manage global communications, media relations, and social media, reporting to CEO Peter Rawlinson. Bringing over 20 years of experience from major automakers and tech companies, Twork will support Lucid's mission to decarbonize transportation as the company gears up for the production of its first SUV, Lucid Gravity. Twork's diverse background includes roles at Ford, GM, Porsche, and ONE, emphasizing his capability to enhance Lucid's brand and growth strategies. Lucid's flagship model, Lucid Air, starts at $69,900 and is acclaimed for its superior performance and efficiency.

Lucid Group (NASDAQ: LCID) announced that CEO and CTO Peter Rawlinson will speak at two notable industry events. On June 11, 2024, Rawlinson will participate in a fireside chat at the Deutsche Bank Global Auto Industry Conference at 2:40 p.m. Eastern Time. The following day, June 12, 2024, he will join the third annual Evercore ISI Global Clean Energy & Transitions Summit at 9:00 a.m. Eastern Time. Both events will be webcast live on Lucid's investor relations website, with replays available for 60 days following the presentations.

Lucid Group announced the appointment of Lisa M. Lambert to its board of directors, effective immediately. Lambert brings extensive experience in sustainability, infrastructure, and technology, having previously led projects at Intel and National Grid. She currently serves as Chief Investment Officer at the George Kaiser Family Foundation. Lambert's experience includes roles such as Chief Technology and Innovation Officer at National Grid and Managing Partner at The Westly Group. Lucid's CEO, Peter Rawlinson, highlighted Lambert's background in technology and sustainability as instrumental for the company's future growth. The company's board now includes nine members, all re-elected at Lucid's 2024 Annual Meeting of Stockholders.