Who owns Lucid motors? Lucid Motors made a huge splash in 2022, with its first car, the Air, winning MotorTrend’s Car of the Year award. This week, the Air was named the World Luxury Car by the World Car Awards, and reviewers are praising the car’s tech, its speed, it’s super-fast charging, and its amazing 516-mile range.

What Is Lucid Motors?

Lucid Motors has drawn countless comparisons to Tesla—and this is not a coincidence. Lucid has ex-Tesla people working for the company, especially at high levels. The company’s CEO, Peter Rawlinson, was an engineer formerly working on the Tesla Model S. Tesla and Rawlinson have sparred over his exact role at Tesla, especially over how substantial, or not, it was.

But, one thing is definitely clear, Rawlinson’s vision for Lucid Motors is to not only compete with Tesla but to outclass them outright. The company initially began as a battery company called Atieva, but this name didn’t have the best ring to it.

When the company decided to rebrand itself as an EV manufacturer, it eventually came up with the name Lucid, which is catchy and much more marketable than Atieva. Thanks to its founders’ extensive know-how in EV batteries and powertrain technology, Lucid Motors could hit the ground running once they began working on their own EV.

Although it might seem like the company just popped out of the blue, Lucid has been honing its craft by working on batteries since 2008.

The company has even supplied batteries for Formula E race cars, which definitely explains why the Lucid Air is one of the best high-performance EVs in the market while also being one of the EVs with the most range. It seeks to continue innovating, and its mission is to build THE best electric vehicle for sale.

That’s why comparisons to Tesla aren’t really what the company is seeking—Lucid wants to carve its own space and build better cars than any EV maker, including Tesla.

Who Owns Lucid motors?

Lucid is a publicly traded company that has received a lot of investor funding over its history, but the American company’s largest shareholder is the Saudi Arabian PIF or Public Investment Fund. The initial deal with the PIF, worth over 1 billion dollars, allowed Lucid to launch their company and develop the Lucid Air as they envisioned it.

But, many people have criticized the company for its involvement with the Saudi government due to Saudi’s poor record regarding human rights issues. The difficult part is that Lucid is in no position to take a stand against anything the Saudi government is supposedly doing wrong; remember, the Saudi Private Investment Fund is the majority shareholder of Lucid.

It will be interesting to see how this dynamic shapes the company’s future and how people view them once this information becomes more mainstream.

The Next Tesla?

The company has many parallels to Tesla, and they’re definitely not trying to shy away from the comparisons. This is especially true when you consider that their launch product, the Lucid Air, is a sedan aimed squarely at Tesla’s pride and joy: the Model S. Regardless, Lucid is a company carving its own niche in the EV sector, and it will be interesting to see where they go from here.

How Many Cars Has Lucid Sold?

Last year was a good year for Lucid, as it finally started sales and production of the Air. In January of 2023 it said it produced 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. It will give an update on 2023 production on May 8.

When Is Lucid Launching?

The Lucid Air is available in many configurations, and the price varies quite dramatically between the different specifications. The Lucid Air starts at $87,400 for the Air Pure model, which will be launching in Q4 2022.

This model features 480 hp and 406 miles of range. Clearly, it’s not cheap, even in base form. But, Lucid makes no pretenses about this, billing themselves as a luxury electric carmaker.

Once you start scaling up the price ladder, things get fascinating in the world of Lucid Air. The Air Grand Touring model, which is currently being delivered to customers, starts at a whopping $154,000. While it might be extremely expensive, Lucid delivers breathtaking stats to go along with the massive price tag.

The Lucid Air Grand Touring Performance is one of the best performance EVs currently for sale, delivering a mind-blowing 1,050 hp from its Dual ActiveCore electric motors.

The Air Grand Touring can also deliver up to 516 miles of range when properly equipped, which crushes the Tesla Model S and its approximately 400 miles of range. The Air Dream Edition is the most bonkers model you can get, with up to 1111 hp from its dual motors and a price tag starting at $169,000.

Unfortunately, the Air Dream Edition is closed for reservations at the time of writing, so it’s not clear when this model will be available to order again.

Lucid is clearly doing things their way, especially with the massive difference in prices for the different configurations of the same model. We’ll have to wait and see how the sales figures stack up, but in terms of technology, Lucid is delivering.

How Does the Lucid Air Compare to the Tesla Model S?

In terms of range, the longest range Lucid travels up to 520 miles on a single charge. Yes, this is absolutely incredible, especially considering the Lucid is a heavy luxury sedan. However, in terms of direct competitors, you can’t get much closer than the Tesla Model S.

Lucid’s CEO, Peter Rawlinson, was chief engineer for the Tesla Model S program, but now he’s building the car meant to destroy the Model S. The Model S can go up to 405 miles on a single charge, which is definitively put to shame by the Lucid’s incredible 520 miles from its longest range model.

The range delivered by the Lucid is great even in terms of gasoline vehicles, so you can definitely forget about range anxiety. However, in terms of acceleration, the Model S Plaid handily beats the Lucid (and anything else on the road) with its amazing 1.99-second run to 60 mph. The Tesla is also untouchable in the quarter mile, with a time of 9.23.

Another place where the Lucid has the Tesla beat is in interior trim. The Lucid is an experience on the inside, with luxurious surfaces everywhere you look. The interior themes mimic private jets, so the front of the vehicle features darker trims while the rear features lighter shades.

The materials and the design of the interior are far and away more attractive than what Tesla offers in the Model S. The Lucid also features an industry-leading front trunk (frunk).

The Lucid Air frunk is apparently 89 percent larger than the current leader in the Lucid’s vehicle class, which is substantial, to say the least. Moreover, the frunk is even bigger than an EV SUV frunk, at 40% larger than the current SUV leader in frunk size.

FAQs

Who is Lucid company owned by?

PIF first bought into Lucid, an emerging rival to Tesla, in 2018 with a $1 billion investment. It currently controls 60.5% of the company, committing another $1.8 billion as part of a $3 billion funding round Lucid announced in May.

Is Lucid better than Tesla?

Lucid also offers up the best EV range on the market by way of the Air Grand Touring, which is rated to drive 516 miles on a full battery. Tesla led the market for years, but its best offering, the Model S is no longer the longest-range electric car with only 405 miles of range.

Who is Lucid largest investor?

The Saudi Public Investment Fund is the majority shareholder of EV start-up Lucid. Lucid ‘s largest shareholder is showing growing support for its electric vehicle investment.

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