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Lucid Motors Reviews

Newark, California

4.7/ 5

3 reviews

Lucid Motors is an American automotive and technology company specializing in the design, engineering, and manufacturing of luxury electric vehicles (EVs) and advanced EV powertrain systems. Founded in 2007 under the name Atieva by former Tesla VP Bernard Tse and entrepreneur Sam Weng, the company initially focused on developing electric vehicle battery technology and powertrain systems for other manufacturers, notably supplying batteries for the Formula E racing series. In October 2016, the company rebranded to Lucid Motors and shifted its strategic mission toward building its own all-electric, high-performance luxury vehicles. It is headquartered in Newark, California. The company's leadership team has included prominent figures from the automotive industry, notably Peter Rawlinson, the former VP of Engineering for the Tesla Model S, who served as CTO and later CEO. Lucid positions itself not merely as a tech company, but as a premium luxury brand aiming to compete directly with established German luxury automakers and top-tier EV models like the Tesla Model S and Porsche Taycan. In September 2021, Lucid commenced production of its flagship vehicle, the Lucid Air, a luxury sedan manufactured at its purpose-built Advanced Manufacturing Plant (AMP-1) in Casa Grande, Arizona. The Lucid Air received widespread acclaim, including being named the 2022 Motor Trend Car of the Year, notable for being the first time a debut model from a new brand won the award. The vehicle is celebrated for its industry-leading efficiency, proprietary 900V+ electrical architecture, sleek aerodynamics, and an EPA-rated range of up to 520 miles on a single charge. Lucid has since expanded its vehicle lineup, commencing production on its second major model, the Lucid Gravity luxury SUV, in December 2024. Financially, Lucid went public on the NASDAQ in July 2021 via a merger with Churchill Capital Corp IV, a special-purpose acquisition company (SPAC). A defining aspect of Lucid's corporate and financial structure is its backing by the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia. The PIF first heavily invested in Lucid in 2018 and has maintained a majority stake of roughly 58% to 65% in the company. This substantial institutional backing provides Lucid with a more stable financial runway compared to many contemporary EV startups. In addition to vehicle production, Lucid leverages its proprietary technology vertically by supplying advanced powertrain and battery systems to other automakers, including a strategic partnership to supply technology to Aston Martin.