All Updates

All Updates

icon
Filter
Funding
Lucid Group raises USD 1.5 billion in funding from Public Investment Fund
EV Economy
Aug 5, 2024
Older updates:
Partnerships
Lucid partners with Graphite One for synthetic anode-active materials supply
EV Economy
Jul 25, 2024
Funding
Lucid raises USD 1 billion through stock offering and private investment
EV Economy
Mar 26, 2024
Management news
Lucid appoints Marc Winterhoff as chief operating officer
EV Economy
Nov 7, 2023
Product updates
Lucid to adopt North American Charging Standard in 2025
EV Economy
Nov 6, 2023
Product updates
Lucid launches ‘Air Pure RWD’
EV Economy
Oct 5, 2023
Geographic expansion
Lucid begins operations at EV manufacturing facility in Saudi Arabia
EV Economy
Sep 27, 2023
Funding
Lucid raises USD 3 billion through stock offering and private investment
EV Economy
May 31, 2023
Earnings/results
Lucid Group’s operating loss up 29% YoY in Q1 2023
EV Economy
May 12, 2023
Earnings/results
Lucid Group reports Q4 2022 and full-year results
EV Economy
Feb 24, 2023
Aug 5, 2024

Lucid Group raises USD 1.5 billion in funding from Public Investment Fund

Funding

  • Lucid Group, a Nasdaq-listed manufacturer of passenger EVs, has secured USD 1.5 billion in funding from its majority stockholder, Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF). The funding comprises a USD 750 million convertible preferred stock investment and a USD 750 million unsecured delayed draw term loan facility.

  • Lucid intends to use the funds from the private placement and any proceeds from the term loan for general corporate purposes, including capital expenditures and working capital.

  • Analyst QuickTake: This is the second notable fundraising effort Lucid has carried out with Ayar Third Investment Company this year. Before this, in March 2024 , the company raised USD 1 billion of convertible preferred stock in a private placement.

Contact us

Gain access to all industry hubs, market maps, research tools, and more
Get a demo
arrow
menuarrow

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.