Who Owns Lucid Motors? It’s Not Tesla or the Chinese Government

Lucid Motors made a huge splash in 2022, with its first car, the Air, winning MotorTrend’s Car of the Year award. This week, the Air was named the World Luxury Car by the World Car Awards, and reviewers are praising the car’s tech, its speed, it’s super-fast charging, and its amazing 516-mile range.

But there seems to be a big mystery about Lucid.  One of the most common questions about Lucid is, “Who owns Lucid Motors?”

 Is Lucid Motors a Chinese Company?

Inside a Lucid Air studio in Canada
The Lucid Studio at CF Pacific Centre in Vancouver, B.C. | Lucid

Lucid Motors is not a Chinese company, despite what the Internet tells you. And, despite its similarities to Tesla, the two are not related. It has Silicon Valley roots and is based in Newark, California, while its manufacturing plant is in Case Grande, Arizona, which is a Phoenix Suburb. Though all the design, R&D, and manufacturing is done in the U.S., a majority of the company’s stock, however, is owned by Public Investment Fund. PIF is a sovereign wealth fund based in Saudi Arabia that also owns major stakes in Boeing, Uber and Citigroup.

The company’s CEO is Peter Rawlinson, a former chief engineer at Tesla. According to Zippia, which tracks companies’ employees, it has about 2,000 employees, all in the U.S.

Is Lucid Stock a buy or sell?

A Lucid Air competes at the Goodwood Festival of Speed hilclimb.
The Lucid Air was the fastest production car at the 2022 Goodwood Festival of Speed. | Lucid

The easy answer to “Who owns Lucid?” could be “investors.” in 2021, Lucid Group went public through a $4.5 billion reverse merger (through a SPAC) with PIF and it now trades on the NASADAQ as LCID. So, you could own part of Lucid, too! We’re not going to give you stock picking advice here, but the stock has seen its share of ups and downs as the company first started selling truckloads of cars, and then struggled with production and delivery delays.

How many cars has Lucid sold?

A male model inside a Lucid Air sedan
The interior of a Lucid Air | Lucid

Last year was a good year for Lucid, as it finally started sales and production of the Air. In January of 2023 it said it produced 7,180 cars, including 3,493 in the fourth quarter of 2022 alone. The company forecasted that it would produce 6,000 to 7,000 cars. Overall in 2022 it delivered 4,369 vehicles to new owners. It will give an update on 2023 production on May 8.

How much will the Lucid car cost?

2024 Lucid Gravity SUV Concept
New Lucid Gravity SUV | Lucid

Who owns Lucid cars? The Lucid Air and the upcoming Lucid Gravity SUV are luxury vehicles aimed at high-end models from Mercedes like the EQS. So, they’re not cheap … but they can be less expensive than a comparable Tesla. The Air sedan starts at $87,400 with a single motor driving the rear wheels. The Touring version starts at $107,400 and includes two motors. The top-dog Sapphire model has 1,200 horsepower, a 2.0-second 0-60 mph time, and a staggering price tag of $249,000.

Many Lucid Airs qualify for the $7,500 EV tax credit.

Lucid Financial Services with finance your Air

A brown Lucid Air sedan photographed in Saudi Arabia
A Lucid Air photographed in Saudi Arabia | Lucid
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The Best Luxury Car in the World? The Lucid Air

Cars aren’t Lucid’s only moneymaker. Like most automakers, Lucid also has a finance arm. The company’s new Lucid Financial Services will finance you car in 24 month, 36 month, or 48-month loans. But what Lucid Financial will crucially add is a leasing option. Leasing an EV is a great way to drive a state-of-the art car today and then not lose out when the next wave of technology comes along and improves the breed.