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Lucid Group, Inc. (NASDAQ: LCID) is a dynamic technology and automotive company that is revolutionizing the electric vehicle (EV) market. Lucid is celebrated for its luxury electric vehicles and cutting-edge EV technologies, with a mission to inspire the adoption of sustainable energy. Headquartered in Newark, California, the company is known for its commitment to sustainability, advanced technology, and exceptional design.
Lucid's flagship product, the Lucid Air, is a luxury sedan that has garnered significant acclaim for its sleek design, impressive range, and high performance. The Lucid Air Grand Touring, for instance, boasts an EPA-estimated range of 516 miles, the longest of any EV on the market. The Air lineup also includes models like the Air Pure, Air Touring, and the high-performance Air Sapphire, each offering a unique blend of luxury, range, and power.
In November 2023, Lucid unveiled the Lucid Gravity, a groundbreaking luxury electric SUV. Designed to offer unparalleled space, performance, and efficiency, the Gravity SUV is expected to redefine the standards for electric SUVs. With a projected driving range exceeding 440 miles and seating for up to seven adults, the Gravity SUV showcases Lucid's innovative EV powertrain technology and holistic approach to vehicle engineering.
Lucid's commitment to innovation extends beyond vehicle design. The company's proprietary Clearview Cockpit user interface and Lucid Pilot Panel are designed to provide an intuitive and seamless driving experience. The Gravity SUV, for example, features a 34-inch curved OLED display and advanced software with over-the-air updates, ensuring continuous vehicle improvement.
Financially, Lucid has shown resilience and growth. The company reported a revenue of $172.7 million for the first quarter of 2024 and expects to manufacture approximately 9,000 vehicles in the same year. Lucid also raised $1.0 billion in financing through a private placement to an affiliate of the Public Investment Fund (PIF), underscoring strong investor confidence in the company's future.
Lucid is also focused on expanding its global footprint. With manufacturing facilities in Casa Grande, Arizona, and King Abdullah Economic City in Saudi Arabia, the company is well-positioned to meet growing demand for its vehicles in the U.S., Canada, Europe, and the Middle East.
The company's leadership team, led by CEO and CTO Peter Rawlinson, is dedicated to pushing the boundaries of EV technology. With a strategic focus on innovation, cost optimization, and sustainable growth, Lucid is poised to continue leading the luxury EV market.
For more information, visit Lucid Motors.
Graphite One (TSXV: GPH) and Lucid (NASDAQ: LCID) have entered into a non-binding supply agreement for anode active materials (AAM). This marks the first synthetic graphite agreement between a U.S. graphite developer and a U.S. EV company. The agreement involves 5,000 tonnes per annum of synthetic graphite for an initial 5-year term, subject to Graphite One commencing production.
Graphite One plans to develop a complete U.S.-based advanced graphite supply chain, including an AAM facility in Warren, Ohio. The company aims to produce 25,000 tonnes per year in Phase 1, with potential to scale up to 100,000 tonnes per year. This agreement aligns with Graphite One's goal to address the United States' 100% import dependence on synthetic and natural graphite.
Lucid Group (NASDAQ: LCID) has announced groundbreaking updates for its 2025 Lucid Air lineup, setting new standards in electric vehicle efficiency. The 2025 Lucid Air Pure achieves a landmark 5.0 miles/kWh and a record 146 MPGe EPA rating, making it the most efficient vehicle ever made. With an EPA-estimated range of 420 miles from an 84 kWh battery pack, it's priced from $69,900.
Key improvements across the lineup include:
- Standard heat pump for improved real-world range
- New infotainment processor with triple the processing power
- DreamDrive Premium ADAS as standard
- Enhanced SurrealSound Pro system for Grand Touring models
The 2025 lineup includes the Grand Touring (512 miles range, from $110,900), Touring (406 miles range, from $78,900), and Pure models, all available to order now.
Lucid Group (NASDAQ: LCID) announced its Q2 2024 production and delivery figures. The company produced 2,110 vehicles and delivered 2,394 during the quarter ending June 30, 2024.
Lucid will discuss its Q2 2024 financial results in a conference call on August 5, 2024, at 2:30 pm PT / 5:30 pm ET. An earnings press release and webcast link will be available on the company's investor relations website prior to the call.
To enhance shareholder engagement, Lucid is partnering with Say Technologies, allowing shareholders to submit and upvote questions from July 22 to August 2, 2024. Selected questions will be addressed during the earnings call.
The Q&A platform can be accessed via Say Technologies' portal, and support inquiries can be directed to support@saytechnologies.com.
Lucid Group (NASDAQ: LCID) has reached an agreement with Gravity, Inc. regarding the use of the 'Lucid Gravity' trademark. The deal allows Lucid to use the 'Lucid Gravity' brand without infringing on Gravity's pre-existing trademark, thereby avoiding a potential dispute. This agreement is seen as a positive step for both companies, with Lucid looking forward to launching its all-electric SUV, the Lucid Gravity, and Gravity emphasizing its role in supporting the industry's growth with high-speed EV charging equipment.
Lucid Group (NASDAQ: LCID), renowned for its cutting-edge electric vehicles, has appointed Nick Twork as Head of Global Communications. Twork will manage global communications, media relations, and social media, reporting to CEO Peter Rawlinson. Bringing over 20 years of experience from major automakers and tech companies, Twork will support Lucid's mission to decarbonize transportation as the company gears up for the production of its first SUV, Lucid Gravity. Twork's diverse background includes roles at Ford, GM, Porsche, and ONE, emphasizing his capability to enhance Lucid's brand and growth strategies. Lucid's flagship model, Lucid Air, starts at $69,900 and is acclaimed for its superior performance and efficiency.
Lucid Group (NASDAQ: LCID) announced that CEO and CTO Peter Rawlinson will speak at two notable industry events. On June 11, 2024, Rawlinson will participate in a fireside chat at the Deutsche Bank Global Auto Industry Conference at 2:40 p.m. Eastern Time. The following day, June 12, 2024, he will join the third annual Evercore ISI Global Clean Energy & Transitions Summit at 9:00 a.m. Eastern Time. Both events will be webcast live on Lucid's investor relations website, with replays available for 60 days following the presentations.
Lucid Group announced the appointment of Lisa M. Lambert to its board of directors, effective immediately. Lambert brings extensive experience in sustainability, infrastructure, and technology, having previously led projects at Intel and National Grid. She currently serves as Chief Investment Officer at the George Kaiser Family Foundation. Lambert's experience includes roles such as Chief Technology and Innovation Officer at National Grid and Managing Partner at The Westly Group. Lucid's CEO, Peter Rawlinson, highlighted Lambert's background in technology and sustainability as instrumental for the company's future growth. The company's board now includes nine members, all re-elected at Lucid's 2024 Annual Meeting of Stockholders.
Lucid Group, Inc. announced its first quarter 2024 financial results, reporting a revenue of $172.7 million and delivering 1,967 vehicles. The company raised $1.0 billion via a private placement to an affiliate of the Public Investment Fund and ended the quarter with approximately $5.03 billion in total liquidity. With plans to manufacture around 9,000 vehicles in 2024, Lucid is optimistic about its sales momentum and cost optimization programs, aiming to become a key player in the electric vehicle market.
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