Lucid Motors

Manufactures luxury electric vehicles in USA

Newark, California, United States

About Lucid Motors

Lucid Motors manufactures electric vehicles (EVs) in California, focusing on high-performance and luxury models for environmentally conscious consumers. The company designs and assembles its vehicles in the U.S., utilizing advanced in-house technology that enhances efficiency and extends driving range. This technology allows for longer travel distances with fewer batteries, making the vehicles lighter and more sustainable by reducing the need for precious metals. Lucid Motors differentiates itself from competitors by employing a direct-to-consumer sales model, which enables them to manage the entire customer experience from design to service. Their product lineup includes various models like the Pure AWD, Touring, and Grand Touring, along with incentives such as Pro Credits and Air Credits for timely deliveries. The goal of Lucid Motors is to transform the automotive industry through sustainable technology and provide luxury electric vehicles that meet the needs of modern consumers.

Newark, CaliforniaHeadquarters
2016Year Founded
$3,537.8MTotal Funding
IPOCompany Stage
Automotive & Transportation, EnergyIndustries
5,001-10,000Employees

Benefits

Family Medical Leave
Remote Work Program
Health & Wellness - Dental Benefits, Disability Insurance, Flexible Spending Account (FSA), Health Insurance Benefits, Life Insurance, Vision Benefits, Fitness Subsidies
401(K)
Paid Volunteer Time
Paid Holidays
Paid Sick Days

Risks

Increased competition from luxury automakers like Mercedes-Benz and BMW.
Potential delays in Panasonic's battery supply could affect production timelines.
Direct-to-consumer model may struggle in regions with strong dealership networks.

Differentiation

Lucid Motors offers advanced EV technology with longer range and fewer batteries.
The company uses a direct-to-consumer sales model, bypassing traditional dealerships.
Lucid Assistant, a voice AI feature, enhances user experience in their electric vehicles.

Upsides

Collaboration with Panasonic enhances vehicle range and performance in the luxury EV market.
Strategic price cuts and stock sale provide financial stability for future growth.
Expansion into Detroit accelerates development of new models and technologies.

Funding

Total raised$3.54 B
Latest valuation$24.00 B
StageIPO
POST IPO DEBT
7/31/2024
$750
POST IPO CONVERTIBLE
7/31/2024
$750
POST IPO EQUITY
11/30/2022
$1.5 K
SPAC IPO
1/31/2021
$4.4 K
$24.00 B
GROWTH EQUITY VC
8/31/2018
$1.0 K
$6.00 B
LATE VC
4/30/2014
$100
$500.00 M