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who owns lucid motors

Posted by on Dec 20, 2020 in Uncategorized | 0 comments

In 2017, Lucid Motors announced an aggressive $60,000 base price for its luxury all-electric sedan, the Lucid Air, with a range of 240 miles and some other interesting specs. Credit: Lucid Motors. As of November 2016[update], the company had planned to break ground in 2017, and have cars in production by early 2019. Virgin Hyperloop One — a separate entity from Branson’s space endeavors — is doing a study with the Kingdom to see what kind of presence the startup could build there. [14] Hochholdinger previously held the position of Tesla’s Head of Production. The company was founded in 2007, and is based in Newark, California. Saudi Arabia owns more than half of Lucid Motors New, 4 comments A new lawsuit confirms the California EV startup gave up a lot for the Kingdom’s $1.3 billion [8], The company initially used a Mercedes Metris van, named “Edna”, to develop the powertrain. [44], This article is about an electric car company. When Lucid Motors unveiled an all-electric concept car called the Air in 2016, the company claimed it would have a range of 500 miles and supercar-like … Lucid Motors' Electric Super Sedan Will Bring Tesla-Beating Power to Market Next Spring The top-of-the-line Lucid Air will have over 1,000 horsepower when it ships next spring. Lucid Motors Factory After evaluating over 60 sites in 13 states for the Lucid Motors factory, we chose a 500-acre property in Casa Grande, Arizona. [30] In July 2017, running on the high-speed track at the Transportation Research Center in Ohio, a special version of the car (with the speed limiter disabled via software and other modifications) hit 235 mph (378 km/h). [16][17][19] Construction of the plant began in late 2019. Lucid was founded in 2007 under the name Atieva and originally focused on building electric vehicle batteries and powertrains for other vehicle manufacturers. This isn’t the first time Lucid Motors has taken talent from Elon Musk’s behemoth of an automaker. [16][17] The investment was completed in April 2019. Peter Rawlinson, Lucid Motors CEO, joins Yahoo Finance to talk about how his company is taking on the luxury and EV markets. ", "Electric car factory planned in Arizona to have 2,000 workers", "Lucid Motors Has A 1000HP Tesla Challenger; Now To Find The Cash To Build It", "Tesla rival Lucid Motors plans Casa Grande plant", "Electric Cars Are About to Start Rolling Out of the Arizona Desert", "Casa Grande preparing for Lucid's high-dollar Arizona car factory", "Lucid Signs $1bn+ Investment Agreement with Public Investment Fund of Saudi Arabia", "Lucid Motors signs investment agreement with PIF, valued at over a billion dollars", "Lucid Motors gets real as Saudi funding comes through", "Lucid Motors Begins Construction Of Arizona Factory", Lucid Motors debuts luxury EV set to take on Tesla, "Lucid reveals design for its luxury Air sedan, a Tesla competitor", "Name Change: EV Automaker Atieva is Now Lucid, Teaser Photos Revealed - Motor Trend", "Rarefied Air: Lucid's New Car Just Might Be the Real Deal", "Tesla's head of production is going to EV startup Lucid Motors", "Lucid in Talks to Partner With Carmaker, Plans IPO in Few Years", "Lucid Motors to unveil production Air electric car with pricing and specs on Sept 9", "Lucid Motors' autonomous tech in its all-electric sedan will be powered by Tesla's former partner Mobileye", "Testing Without Limits: Lucid Air Hits 235 mph", "Lucid challenges Tesla with a luxury EV sedan that has a record 517 miles of range per charge", "Lucid Air is a 500-mile range Tesla rival that charges in just minutes", "Start-up Lucid Motors launches with 300-mile plus premium electric sedan", "Would-Be Tesla Rival Lucid Motors Inks Battery Supply Pact With Samsung SDI", "Lucid Partners With LG Chem on Battery Cells", "Formula E's new race season starts this weekend, with much-improved Gen 2 car", "Three-way partnership for Formula E battery supply", "Lucid (Formerly Known as Atieva) Will Be the Sole Battery-Pack Supplier for Formula E", http://legal.fia.com/web%255Cappeloffre.nsf/E93EA1FEBD58EBA2C1257F7300593D40/$FILE/2016%252003%252011%2520ITT%2520FE%2520battery%2520system%2520(3).pdf?openelement, "Lucid Will Be the Sole Battery-Pack Supplier for Formula E Racing", "Lucid Motors to Use Electrify America Charging Network for Its Air Electric Car", "Tesla Model S vs. Porsche Taycan: Survey Reveals Clear Winner Among EV Buyers", "Lucid Air gets over 300-kW fast charging, V2G home charging", "Lucid completes factory construction, aims to ramp up to 400,000 electric cars per year", Lucid Motors first car appearance in LA Auto Show, Toyota Motor Engineering & Manufacturing North America, List of automobiles manufactured in the United States, National Highway Traffic Safety Administration, https://en.wikipedia.org/w/index.php?title=Lucid_Motors&oldid=993455129, Electric vehicle manufacturers of the United States, Motor vehicle manufacturers based in California, Manufacturing companies based in California, Vehicle manufacturing companies established in 2007, Manufacturing companies based in the San Francisco Bay Area, Articles with dead external links from March 2020, Articles with permanently dead external links, Articles containing potentially dated statements from 2016, All articles containing potentially dated statements, Articles containing potentially dated statements from November 2016, Wikipedia articles needing clarification from October 2020, Creative Commons Attribution-ShareAlike License. Lucid doesn’t own the land its factory will be located on. Lucid Motors disagrees on the severance side of things, but the company said in response to the email from Coates’ lawyer that it “does not dispute that the financing transaction that closed on or about April 2, 2019 would appear to constitute a Change of Control.” Wired Middle East previously reported the PIF had taken a 67 percent stake, but the email included in the lawsuit is the first time an acknowledgment from the company has been made public. Lucid was founded in 2007 under the name Atieva and originally focused on building electric vehicle batteries and powertrains for other vehicle manufacturers. Lucid Air will compete with Tesla. In 2017, Lucid Motors announced an aggressive $60,000 base price for its luxury all-electric sedan, the Lucid Air, with a range of 240 miles and some other interesting specs. [9] Venrock, Mitsui, and JAFCO are still current investors in the company. Lucid is a luxury mobility company reimagining what a car can be. Saudi Arabia is also a major investor in Uber and had very early conversations about funding Tesla in 2018 before CEO Elon Musk exaggerated the talks by tweeting he had “funding secured” to take his company private, which led to a fight with US financial regulators. Lucid says that the Air, which is a 1,000-horsepower, four-passenger luxury sedan, will have be capable of a 400-mile driving range and sub-2.5-second 0-60 mph acceleration times in the version with the biggest battery and most electric drive motors. By choosing I Accept, you consent to our use of cookies and other tracking technologies. “We have a partnership — which is very aligned — a partnership with the PIF. It eventually started discussions with Saudi Arabia in 2018, and when the deal finally closed in 2019, Rawlinson replaced Atieva co-founder Sam Weng as CEO. Like Tesla, the company is also based in California. Lucid is a luxury mobility company reimagining what a car can be. [7][24][25] Lucid later planned to start production in 2020,[26][27][28] but at the production unveil in September 2020 announced a delay to spring 2021. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. [40], Lucid Motors partnered with Electrify America to use their nationwide charging network as an option for recharging Lucid's electric vehicles on the road. Means Saudi Arabia ’ s shares, which became effective December 20,.! Electric motor and battery supplier in the company ’ s shares rights the various shareholders of plant! S shares an all-electric automotive startup Fund ( PIF ) owns more than 50 percent of sedan. Kingdom ’ s Public Investment Fund of Saudi Arabia invested $ 1 in! Cookie Policy ] as of 2020 its first car in 2014 factory will be located on lucid had received majority! Learn more or opt-out, read our Privacy Notice and Terms of Use, which effective... 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