EV startup Lucid (LCID) just received another $1 billion investment from Saudi Public Investment Fund (PIF) affiliate Ayar Third Investment Co. The new funding will help support the launch of Lucid’s first electric SUV, the Gravity, later this year.
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During a ribbon-cutting ceremony celebrating the opening of Phase 2 at its AMP-1 production facility in Arizona, Lucid Motors CEO Peter Rawlinson briefly teased the automaker’s third model in the works – a mid-size EV that will arrive as a direct competitor to the Tesla Model 3 and Model Y.
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As this article goes live onto the interwebs, American EV automaker Lucid Motors is pulling the cloak off its second model and first-ever SUV – the Gravity. Today’s unveiling at AutoMobility LA is years in the making and represents the next chapter for Lucid, which looks to garner a larger audience of American consumers with its encore EV. Lots to unfold here, including some video footage you can peep below, so let’s dig in.
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EV maker Lucid Motor’s (LCID) recent price cuts have been “well received by customers,” according to CEO Peter Rawlinson. The company’s leader also said the Gravity electric SUV launch is on track for November.
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Drivers in the US might want to start keeping their eyes open for a new EV while out on the road, because they may soon catch a glimpse of Lucid’s long-teased Gravity SUV. The American automaker shared a development update today announcing that public road testing is now underway, sharing two new images of the all-electric SUV alongside a quick video teaser.
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Lucid Group and Panasonic Energy announced they have entered into multi-year agreements that entail the latter supplying lithium-ion batteries to both the Lucid Air and Gravity SUV. Part of the agreement supports Panasonic Energy’s plans to expand outside of Japan and begin production at a new facility in the US.
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Mere hours after sharing details of the final two versions of its Air sedan reaching customers this year, Lucid Motors has spoiled its audience with new details surrounding its upcoming Gravity SUV. Lucid shared the images you’ll see below during its livestream event this morning, as well as details pertaining to reservations, production, and some vehicle design news. Here’s what we’ve learned.
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Lucid Motors ($LCID) has posted its financial results for Q3 of 2022 ahead of its earnings call with investors later this afternoon. EV production and Air deliveries continue to grow while cash on hand continues to shrink. Still, Lucid Motors appears to be in good shape headed into 2023 as it looks to soon launch its second model, Project Gravity.
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On November 15, Lucid Motors announced it will stream a global launch event called “In the Air and Beyond,” in which the American automaker will debut the final two trims of its flagship sedan – the Air Pure and Air Touring. Lucid is also promising progress updates regarding its business strategy and future EV models like its electric SUV. Here’s what to expect.
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Lucid Group has announced a new agreement with long-time supporter Saudi Arabia and its Ministry of Finance. Under the terms of the agreement, the Government of Saudi Arabia has committed to purchasing 50,000 EVs from Lucid Motors over the next ten years, with the option to purchase an additional 50k over that same timeframe.
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Lucid Motors shared 4Q and 2021 financial earnings with investors today, alongside a 2022 outlook. While the automaker only delivered 125 of its flagship Air sedan in 2021, it has already surpassed that number in 2022. However, overall output is expected to be quite a bit lower than originally anticipated. Lucid now expects to produce 12,000–14,000 EVs this year, down quite a bit from previous estimates of 20,000.
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I recently had an exclusive opportunity to visit Lucid Motors’ powertrain manufacturing and AMP-1 facilities and test drive a Lucid Air Dream Edition (Performance). Inside and out of my detailed tours full of manic note scribbling, I had tons of time to mingle with members of the Lucid team, from manufacturing employees at AMP-1, to Lucid’s CEO himself. What I discovered was a company-wide focus on teamwork, efficiency, and the utmost quality – an ethos that is apparent when you view the Lucid Air sedan up close.
Update January 28th: Lucid Motors clearly feels strongly about the culture it has created and the talented individuals it employs, as the automaker has shared a new, five-part series showcasing five different employees. The new series, titled “Driving Ambition,” is now available to view on Lucid’s website and YouTube. You can also check out episode one below.
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Lucid’s astute forum members have uncovered news the automaker may or may not want the public to see yet. Patent images of Lucid Motors’ upcoming Gravity SUV were uncovered in a filing with the EUIPO.
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Lucid Motors is making strides toward delivering its foremost electric sedan this spring. Its production lines are beginning to come to life. This is all taking place in Casa Grande, Arizona, a 590-acre footprint and home to Lucid Motors’ new production factory.
The Lucid AMP-1 (Advanced Manufacturing Plant) will house the production and assembly of the California-based automaker’s upcoming Air luxury sedan.
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