Lucid Motors (formerly Atieva), is an electric vehicle manufacturer on a mission to inspire the adoption of sustainable energy by creating the most captivating electric vehicles, centered around the human experience.
Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience.
Lucid was founded in 2007 by Bernard Tse, Sam Weng and Sheaupyng Lin. The company is based in Newark, California. Lucid has offices across the US, EU, and Asia.
Lucid's first car, Lucid Air, a state-of-the-art luxury sedan that features a luxurious full-size interior space in a mid-size exterior footprint. Lucid's full range of models includes Lucid Air Pure, Lucid Air Touring and Grand Touring models. Lucid second model, the Lucid Gravity SUV EV is scheduled to launch in 2024.
Lucid's car uses the 2170 standard for its lithium-ion battery cells, and supply agreements have been signed with both Samsung SDI and LG Chem. Lucid designs, develops, manufactures, and supplies battery packs for gen2 Formula E race teams beginning in the 2018-2019 season through the 2021-2022 racing season, in collaboration with McLaren Applied Technologies and Sony.
Lucid partnered with Electrify America to use their nationwide charging network as an option for recharging Lucid's electric vehicles on the road. Lucid signed an agreement with Government of Saudi Arabia, to deliver 50,000 and possibly up to 100,000 electric vehicles from Lucid Motors over the course of a decade.
Lucid is backed by Saudi Arabia’s Public Investment Fund ("PIF"), Mitsui, JAFCO, Ayar Third Investment Company, China Environmental Fund, Venrock, Tsing Capital, and others. The company raised $3B via a new stock offering on May 31, 2023. This brings Lucid's total funding to $11.3B to date. Lucid announced a deal valued at $11.75B to merge with Churchill Capital Corp IV in Feb 2021. Lucid Motors has a market cap of $14.23B as of June 01, 2023.