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Lucid delivered over 10,000 vehicles for the first time in 2024, and will begin selling its new Gravity SUV in 2025. Like its Air sedan, that vehicle will also cater to luxury buyers.
The company expects to begin production of its second model, the Lucid Gravity SUV, in late 2024. [7] Lucid also supplies and develops powertrain technology to other automakers, including Aston Martin. [8] Since April 2019, Lucid has been majority-owned by the Public Investment Fund, which is the sovereign wealth fund of Saudi Arabia. [9]
The Lucid Air is a battery electric 4-door luxury sedan made by Lucid Motors. The car was announced in December 2016 and sold starting in 2021. The Dream Edition's EPA range is estimated at 520 mi (840 km), the longest on the market as of 2024. [1] [4] The production model was unveiled in September 2020, and production began in late 2021. [5] [6]
The company said it expects capital expenditure of $1.5 billion in 2024 as it prepares to start manufacturing its Gravity SUV later this year, up from $910.6 million last year.
Roughly three years later, the company is poised to produce just 9,000 vehicles when it wraps up its 2024 numbers. The agonizingly slow ramp-up has weighed on the stock. Lucid stock declined 28% ...
His goal is to make Lucid a "major volume player," including the planned late 2024 launch of an electric SUV and a planned 2026 launch of a mid-sized sedan. [25] His name is on dozens of patents for battery technology or other innovations, and Rawlinson oversaw Lucid’s development of the battery used by all the teams in the Formula E electric ...
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The following is a list of passenger automobiles assembled in the United States.Note that this refers to final assembly only, and that in many cases the majority of added value work is performed in other regions through manufacture of component parts from raw materials.