<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Lucid Group, a Nasdaq-listed manufacturer of passenger EVs, has secured a USD 1 billion series of convertible preferred stock in a private placement from its majority shareholder, Ayar Third Investment, an affiliate of Saudi Arabia's Public Investment Fund. 
        This adds to the Kingdom of Saudi Arabia's current shareholding of approximately 60%.
      </p>
    </li>
    <li>
      <p>
        Lucid intends to use the proceeds of the public offering and private investment for general corporate purposes, including capital expenditures and working capital.
      </p>
    </li>
    <li>
      <p>
        The company also plans to begin production of its electric Gravity SUV later this year and has slashed prices on its luxury Air sedan to boost sales.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://ir.lucidmotors.com/news-releases/news-release-details/lucid-group-inc-announces-investment-10-billion-affiliate-pif">
      Press release
    </a>
  </p>
  <p>
    <a href="https://techcrunch.com/2024/03/25/lucid-motors-1-billion-saudi-arabia-gravity-suv/?guccounter=1">
      TechCrunch
    </a>
  </p>
  <p>
  </p>
</div>


EV Economy

<div>
 
 <p>Lucid Group, a Nasdaq-listed manufacturer of electric vehicles (EVs), has raised $1 billion through a series of convertible preferred stock. The private placement was secured by the company's majority shareholder, Ayar Third Investment, which is an affiliate of Saudi Arabia's Public Investment Fund. As a result, the Kingdom of Saudi Arabia now holds approximately 60% of Lucid's shares.</p>
 <p>Lucid has stated its intent to use the money raised from the public offering and private investment for several general corporate purposes. This includes funding for capital expenditures and supplying working capital.</p>
 <p>In addition, the company has plans to begin manufacturing its electric Gravity SUV within the year. In an effort to increase sales, Lucid has also cut prices on its luxury Air sedan model.</p>
 
</div>

Lucid raises USD 1 billion through stock offering and private investment

DISRUPTOR_PRESENT

<div>
 <ul>
  <li><p>Lucid Group, a Nasdaq-listed passenger EV maker, has appointed Marc Winterhoff as the company's first chief operating officer (COO).</p></li>
  <li><p>Winterhoff will focus on improving the company’s operational efficiency and international expansion, enhancing its go-to-market strategy, and maturing its manufacturing operations.</p></li>
  <li><p>Winterhoff has 27 years of experience in the automotive and software industry.</p></li>
 </ul>
</div>

Lucid appoints Marc Winterhoff as chief operating officer

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
<ul>
<li><p>Lucid Group, a Nasdaq-listed passenger EV maker, will allow its customers to charge their vehicles at Tesla Supercharger stations starting from 2025. </p></li>
<li><p>For this compatibility, Lucid vehicles need to be equipped with the current Combined Charging System (CCS) and use an adapter. In the same year, the company plans to include the North American Charging Standard (NACS) in their future EVs. Consequently, Lucid customers will have access to over 15,000 Tesla Superchargers in North America by 2025. </p></li>
</ul>
</div> <p><b>Analyst QuickTake: </b> Lucid is the latest in a <a href="https://techcrunch.com/2023/10/20/toyota-hops-on-teslas-ev-charging-standard-leaving-stellantis-and-vw-as-holdouts/"> slew </a> of EVs operating in North America to switch to NACS. Leading automakers, such as BMW and Toyota, announced their plans to switch to NACs over the past month, while others, including Hyundai, Kia, Honda, Nissan, Mercedes, GM, and Ford, backed the standard over the past year. The switch enables these brands to access Tesla’s charging network from 2025 onwards. However, VW and Stellantis have not reported any changes to their charging plans.</p>

Lucid to adopt North American Charging Standard in 2025

<div>
 
 <ul>
  <li><p>Lucid Group, a Nasdaq-listed passenger EV maker, has launched its new Lucid Air Pure RWD. The EV, which has a starting price of USD 77,400, provides a driving range of 410 miles.</p></li>
  <li><p>The company’s proprietary EV technology also enables the EV to provide up to 150 miles of driving range in less than 12 minutes with DC fast charging. Lucid has also included a unique battery pack for the EV.</p></li>
 </ul>
 
</div> <p><b>Analyst QuickTake:</b> Lucid’s latest product launch comes following the company raising <a href="https://sp-edge.com/updates/22637"> USD 3 billion </a> through a stock offering and private investment in May 2023. Following the private investment, Ayar Third Investment Company, an affiliate of the Public Investment Fund, owns ~60.5% of Lucid’s outstanding common stock. The company intended to use the proceeds for general corporate purposes, including capital expenditures and working capital.</p>

Lucid launches ‘Air Pure RWD’

<div>
 <ul>
  <li><p>Lucid Group, a Nasdaq-listed passenger EV maker, has begun operations at its first car manufacturing facility in Saudi Arabia. This is Lucid's second Advanced Manufacturing Plant (AMP-2) and its first international plant. The company intends to produce its EVs for Saudi Arabia and export to other markets at this facility.</p></li>
  <li><p>The AMP-2 facility is expected to begin operations with a semi-knocked-down (SKD) assembly and have an annual capacity of 5,000 cars.&nbsp;</p></li>
  <li><p>The development of the AMP-2 facility was supported by Ministry of Investment of Saudi Arabia (MISA), the Saudi Industrial Development Fund (SIDF), and the Economic City at King Abdullah Economic City (KAEC). Lucid intends to support the Saudi Green Initiative’s plans to make 30% of new car sales in the country electric by 2030.</p></li>
 </ul>
</div>

Lucid begins operations at EV manufacturing facility in Saudi Arabia

Electric vehicle maker, Lucid Group, has announced a public offering of 173,544,948 shares of its common stock. Additionally, Ayar Third Investment Company, Lucid's majority stockholder, plans to purchase 265,693,703 shares in a private placement, amounting to around $1.8 billion, increasing its ownership of Lucid to approximately 60.5%. The funds raised from the public offering and private investment will be used for general corporate purposes, such as capital expenditures and working capital.

All Updates

Lucid raises USD 1 billion through stock offering and private investment

Lucid appoints Marc Winterhoff as chief operating officer

Lucid to adopt North American Charging Standard in 2025

Lucid launches ‘Air Pure RWD’

Lucid begins operations at EV manufacturing facility in Saudi Arabia

Lucid raises USD 3 billion through stock offering and private investment

Lucid Group’s operating loss up 29% YoY in Q1 2023

Lucid Group reports Q4 2022 and full-year results

Lucid raises ~USD 1.5 billion in funding

Lucid enters into multi-year agreement with Panasonic Energy